a family has $98,150 of taxable income. the top tax rate on the graph is for taxable income over $91,150…

a family has $98,150 of taxable income. the top tax rate on the graph is for taxable income over $91,150. what is the tax rate for the $7,000 they earned over $91,150? (1 point) the tax rate for the $7,000 of taxable income earned over $91,150 is %.

a family has $98,150 of taxable income. the top tax rate on the graph is for taxable income over $91,150. what is the tax rate for the $7,000 they earned over $91,150? (1 point) the tax rate for the $7,000 of taxable income earned over $91,150 is %.

Answer

Explanation:

Step1: Locate income range on graph

The family has taxable income of $98,150 and we are interested in the amount over $91,150 which is $7,000. The top - tax rate on the graph for taxable income over $91,150 needs to be identified.

Step2: Read tax rate from graph

Looking at the graph, for taxable income over $91,150, the tax rate is 27%.

Answer:

27