Question

Given the filing status and the tax, identify the taxable income interval that was used to determine the tax. single $10,975

Solution

Verified

Step 1

1 of 2

Identify the variables:

Tax = $10,975

Status = Single

Taxable income interval = ?

Find the taxable income interval:

Refer to the tax table on page 336. Use the column 'Single'. Find $10,975. You can see it in the second table. Move across to the left until you see the bolded numbers. It says '60,700 and 60,750'. That's the interval.

Answer: $60,700 - $60,750

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Related questions

business math

Use the trading data for Friday, October 20 and Friday, October 27 to answer the questions.

Discovery GroupOctober 20Last$38.50Trade Time4:00 P.M. ETChg$1.56Open$37.2252-week High$76.1952-week Low$22.78Sales in 100s19,700High$40.10Low$36.77\begin{matrix} \text{Discovery Group} & \text{}\\ \text{October 20} & \text{}\\ \text{Last} & \text{\$38.50}\\ \text{Trade Time} & \text{4:00 P.M. ET}\\ \text{Chg} & \text{\$1.56}\\ \text{Open} & \text{\$37.22}\\ \text{52-week High} & \text{\$76.19}\\ \text{52-week Low} & \text{\$22.78}\\ \text{Sales in 100s} & \text{19,700}\\ \text{High} & \text{\$40.10}\\ \text{Low} & \text{\$36.77}\\ \end{matrix}

Discovery GroupOctober 20Last$42.00Trade Time4:00 P.M. ETChg$1.50Open$42.5052-week High$76.1952-week Low$22.78Sales in 100s23,600High$42.50Low$42.00\begin{matrix} \text{Discovery Group} & \text{}\\ \text{October 20} & \text{}\\ \text{Last} & \text{\$42.00}\\ \text{Trade Time} & \text{4:00 P.M. ET}\\ \text{Chg} & \text{\$1.50}\\ \text{Open} & \text{\$42.50}\\ \text{52-week High} & \text{\$76.19}\\ \text{52-week Low} & \text{\$22.78}\\ \text{Sales in 100s} & \text{23,600}\\ \text{High} & \text{\$42.50}\\ \text{Low} & \text{\$42.00}\\ \end{matrix}

 a. What was the difference between the high and the low prices on October 20? b. On October 27, what was the actual volume of Discovery Group shares posted? Write the volume in numerals. c. At what price did Discovery Group close on October 19? d. Use the October 19 closing price from above and the October 20 opening price to find the difference in prices as a percent increase. Round to the nearest hundredth percent. e. On October 21, Discovery Group announced that they would close one of their manufacturing plants. This resulted in a drop in their stock price. It closed at $32. Express the net change from October 20 to October 21 as a percent, rounded to the nearest tenth of a percent. f. On October 28, Discovery Group announced that they would not be closing the plant. This news caused the price of their stock to rise. It closed at$48.20. Express the net change from October 27 to October 28 as a percent, rounded to the nearest tenth of a percent. g. Explain why the 52-week high and 52-week low numbers are the same in both charts. h. Examine the closing price of Discovery Group on October 27. One year earlier one share	closed at 30% higher than that amount. What was the closing price one year earlier?