Question

During the Civil War, taxable incomes over $10,000 were taxed at 5%. If one of Jack ' ancestors had a taxable income of$13,124 during Civil War times, and paid 5% taxe! how much more did Jack pay in 2004 than his ancestor paid in the 1860s?

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

Step 1

1 of 6For this exercise, let us find out how much tax did Jack Wilson pay more than his ancestor having the same taxable income in the civil war times.

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