Answer :
Sure, let's look at the income tax calculation for an income of \[tex]$5,332.25 using the provided tax brackets:
First, identify the correct income brackets and applicable rates. Here are the detailed steps involved:
1. Identify the Tax Brackets Applicable to the Income:
- The income \$[/tex]5,332.25 falls within the first bracket, which is from \[tex]$50 to \$[/tex]9,225 with a tax rate of 20%.
2. Calculate the Tax in Each Applicable Bracket:
- For the income range from \[tex]$50 to \$[/tex]5,332.25 (since it does not exceed \[tex]$9,225): - The entire income of \$[/tex]5,332.25 is taxed at 20%.
3. Compute the Tax Amount:
- Applying the rate of 20% to the income of \[tex]$5,332.25: \[ \text{Tax} = 0.20 \times \$[/tex]5,332.25 = \[tex]$1,066.45 \] So, the total amount of income tax she will pay this year is \$[/tex]1,066.45.
2. Calculate the Tax in Each Applicable Bracket:
- For the income range from \[tex]$50 to \$[/tex]5,332.25 (since it does not exceed \[tex]$9,225): - The entire income of \$[/tex]5,332.25 is taxed at 20%.
3. Compute the Tax Amount:
- Applying the rate of 20% to the income of \[tex]$5,332.25: \[ \text{Tax} = 0.20 \times \$[/tex]5,332.25 = \[tex]$1,066.45 \] So, the total amount of income tax she will pay this year is \$[/tex]1,066.45.
