question 8 (6.6 points)\nuse the 2024 marginal tax rates in the table below to calculate federal income tax…

question 8 (6.6 points)\nuse the 2024 marginal tax rates in the table below to calculate federal income tax for a single individual with no dependents and a taxable income of 28,500.\n2024 irs marginal tax rates\nbracket tax rate single married filing separately married filing jointly head of household\nunmarried, divorced, or legally separated married and each partner files a separate tax return married and both partners file a single tax return unmarried and paying more than half the cost of supporting a child or parent\n1 10% up to $11,600 up to $11,600 up to $23,200 up to $16,550\n2 12% $11,601 to $11,601 to $23,201 to $16,551 to

question 8 (6.6 points)\nuse the 2024 marginal tax rates in the table below to calculate federal income tax for a single individual with no dependents and a taxable income of 28,500.\n2024 irs marginal tax rates\nbracket tax rate single married filing separately married filing jointly head of household\nunmarried, divorced, or legally separated married and each partner files a separate tax return married and both partners file a single tax return unmarried and paying more than half the cost of supporting a child or parent\n1 10% up to $11,600 up to $11,600 up to $23,200 up to $16,550\n2 12% $11,601 to $11,601 to $23,201 to $16,551 to

Answer

Explanation:

Step1: Identify tax - brackets

The taxable income of $28,500 for a single filer falls into two tax - brackets. The first $11,600 is taxed at 10%, and the amount above $11,600 is taxed at 12%.

Step2: Calculate tax for the first bracket

The tax on the first $11,600 is $11,600\times0.10 = 1160$.

Step3: Calculate the amount in the second bracket

The amount in the second bracket is $28,500 - 11,600=16,900$.

Step4: Calculate tax for the second bracket

The tax on the amount in the second bracket is $16,900\times0.12 = 2028$.

Step5: Calculate total tax

The total federal income tax is $1160 + 2028=3188$.

Answer:

$3188$