agnes pays state income tax equal to 3.75% of her federal taxable income. she pays federal income tax equal…

agnes pays state income tax equal to 3.75% of her federal taxable income. she pays federal income tax equal to 28.4% of her federal taxable income. this year, she paid $15,449.60 in federal income tax. how much did agnes pay in state income tax?\na. $573.36\nb. $4,387.69\nc. $1,170.04\nd. $2,040.00\n\nplease select the best answer from the choices provided\n\na\nb\nc\nd

agnes pays state income tax equal to 3.75% of her federal taxable income. she pays federal income tax equal to 28.4% of her federal taxable income. this year, she paid $15,449.60 in federal income tax. how much did agnes pay in state income tax?\na. $573.36\nb. $4,387.69\nc. $1,170.04\nd. $2,040.00\n\nplease select the best answer from the choices provided\n\na\nb\nc\nd

Answer

Explanation:

Step1: Find federal taxable income

Let ( x ) be federal taxable income. Federal tax is ( 28.4% ) of ( x ), so ( 0.284x = 15449.60 ). Solve for ( x ): ( x=\frac{15449.60}{0.284} = 54400 ).

Step2: Calculate state income tax

State tax is ( 3.75% ) of ( x ). So state tax ( = 0.0375\times54400 = 2040 )? Wait, no, wait. Wait, no, wait, let's recalculate. Wait, ( 15449.60 \div 0.284 = 54400 ). Then ( 54400\times0.0375 = 54400\times\frac{3.75}{100}=544\times3.75 = 2040 )? But wait, the options have a. 573.36, b.4387.69, c.1170.04, d.2040. Wait, but maybe I made a mistake. Wait, no, let's check again. Wait, federal tax is 28.4% of taxable income, so taxable income ( x = 15449.60 / 0.284 ). Let's compute that: 15449.60 divided by 0.284. 0.284 times 54000 is 0.28450000=14200, 0.2844000=1136, so 14200+1136=15336. Then 15449.60 - 15336 = 113.60. 113.60 / 0.284 = 400. So total x is 54000 + 400 = 54400. Then state tax is 3.75% of 54400: 54400 * 0.0375 = 54400 * 375 / 10000 = (54400 / 10000)375 = 5.44375 = 2040. So option d is 2040. But wait, let's check the options. Option d is $2,040.00. So that's the answer. Wait, but let me check again. Wait, maybe I messed up. Wait, 28.4% of 54400 is 544000.284 = 544000.2 + 544000.08 + 544000.004 = 10880 + 4352 + 217.6 = 10880+4352=15232+217.6=15449.6, which matches the federal tax. So state tax is 3.75% of 54400: 54400*0.0375=2040. So the answer is d.

Answer:

d. $2,040.00