if the federal government used the progressive tax rate below for individual income tax, complete the table…

if the federal government used the progressive tax rate below for individual income tax, complete the table to calculate the federal income tax owed on a $33,400 salary ($21,200 in taxable income).\n\n| standard deduction ($) | 12,200 |\n|--|--|--|--|--|\n| income range ($) | progressive tax rate | taxable income ($) | income tax owed ($) |\n| 0 - 9,700 | 10% | 9,700 | 970.00 |\n| 9,701 - 39,475 | 12% | 11,500 | 1,380.00 |\n| 39,476 - 84,200 | 22% | | |\n| 84,201 - 160,275 | 24% | | |\n| 160,276+ | 32% | | |\n| total | | 21,200 | ? |

if the federal government used the progressive tax rate below for individual income tax, complete the table to calculate the federal income tax owed on a $33,400 salary ($21,200 in taxable income).\n\n| standard deduction ($) | 12,200 |\n|--|--|--|--|--|\n| income range ($) | progressive tax rate | taxable income ($) | income tax owed ($) |\n| 0 - 9,700 | 10% | 9,700 | 970.00 |\n| 9,701 - 39,475 | 12% | 11,500 | 1,380.00 |\n| 39,476 - 84,200 | 22% | | |\n| 84,201 - 160,275 | 24% | | |\n| 160,276+ | 32% | | |\n| total | | 21,200 | ? |

Answer

Explanation:

Step1: Identify tax - owed components

The taxable income of $21,200 is split into two parts according to the income - range. The first $9,700 is taxed at 10% and the remaining amount ($21,200 - 9,700=11,500) is taxed at 12%.

Step2: Calculate total tax owed

The tax on the first $9,700 is $9,700\times0.1 = 970$. The tax on the remaining $11,500 is $11,500\times0.12 = 1,380$. The total tax owed is $970 + 1,380=2,350$.

Answer:

$2,350$