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

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

Answer

Explanation:

Step1: Identify the tax - rate brackets for single filers

For a single filer, the first $11,600 is taxed at 10%. The remaining income is in the next bracket.

Step2: Calculate the tax on the first - bracket income

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

Step3: Calculate the amount of income in the second bracket

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

Step4: Assume the tax rate for the second - bracket (information incomplete in the provided table, but for simplicity, if we assume a flat 12% for the next bracket which is a common rate in US tax system for such incomes)

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

Step5: Calculate the total tax

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

Answer:

$3188$