yarins gross pay for the year was $3,500. the federal income tax withholding from his pay was 9% of his…

yarins gross pay for the year was $3,500. the federal income tax withholding from his pay was 9% of his gross pay. yarin determined the federal income tax he owes is $115. how much of a refund can yarin expect?\n○ $200\n○ $315\n○ $3,035\n○ $3,185

yarins gross pay for the year was $3,500. the federal income tax withholding from his pay was 9% of his gross pay. yarin determined the federal income tax he owes is $115. how much of a refund can yarin expect?\n○ $200\n○ $315\n○ $3,035\n○ $3,185

Answer

Explanation:

Step1: Calculate tax withheld

To find the federal income tax withheld, we calculate 9% of Yarin's gross pay. The formula for this is: $\text{Tax Withheld} = \text{Gross Pay} \times \text{Tax Rate}$. Given the gross pay is $$3500$ and the tax rate is 9% (or 0.09 in decimal form), we have: $\text{Tax Withheld} = 3500 \times 0.09 = 315$.

Step2: Calculate refund amount

The refund amount is the difference between the tax withheld and the tax owed. The formula is: $\text{Refund} = \text{Tax Withheld} - \text{Tax Owed}$. We know the tax withheld is $$315$ and the tax owed is $$115$, so: $\text{Refund} = 315 - 115 = 200$.

Answer:

$200