a certain state uses the progressive tax rate below for calculating individual income tax. calculate the…

a certain state uses the progressive tax rate below for calculating individual income tax. calculate the state income tax owed on an $70,000 per year salary.\n\nincome range ($)\tprogressive tax rate\n0 - 24,000\t4%\n24,001 - 52,000\t6%\n52,001+\t8%\n\ntax = $?

a certain state uses the progressive tax rate below for calculating individual income tax. calculate the state income tax owed on an $70,000 per year salary.\n\nincome range ($)\tprogressive tax rate\n0 - 24,000\t4%\n24,001 - 52,000\t6%\n52,001+\t8%\n\ntax = $?

Answer

Explanation:

Step1: Calculate tax for first - income range

For the income range of $0 - 24000$, the tax rate is $4%$. The tax amount for this part is $24000\times0.04=$960$.

Step2: Calculate tax for second - income range

The income in the range of $24001 - 52000$ is $52000 - 24000=28000$. The tax rate for this part is $6%$. So the tax amount is $28000\times0.06=$1680$.

Step3: Calculate tax for third - income range

The income above $52000$ is $70000 - 52000 = 18000$. The tax rate for this part is $8%$. So the tax amount is $18000\times0.08=$1440$.

Step4: Calculate total tax

The total state income tax is $960+1680 + 1440=$4080$.

Answer:

$4080$