The original price of an item was $146. Given that the total price with tax was $156.45, determine the amount of tax (to the nearest cent) and the tax rate (rounded to the nearest hundredth of a percent). Be sure to clearly show your work on your paper! Tax amount: S Tax rate:
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- A customer purchases $28.14 in prodcts only $12.83 is taxable. How much sales tax is owed if the tax rate is 10%?I need step by step instructions for the problem e) what is the average income tax rate?** I know you have to divide total tax expense by the net income before taxes.So,For E) the income tax expense is $13,134Net Income before tax??Average Tax rate: ??Revenue : (sales) $144000(service) $28700All the taxes :depreciation tax $10400Interest expense $2400Income Tax expense. $13,134Supplies expense. $12,700F) if $18,500 of dividends had been declared and paid during year, what was the January 1 2016 balance of retained earnings?Retained Earnings Dec 31st : $59000Dividens declared: ???Retained Earnings January 1st: ???Please solve and explain thoroughly.If the sales tax is 6% and the purchase price is $193, what is the amount of tax?
- Calculate the tax rate if the tax amount is $ 64.50 on a purchase of $780?A customer makes a taxable purchase of 44,000. Assuming the applicable sales tax rate is 8.75%, how much will the customer owe? Please round your answer to the nearest whole dollar. Do not include dollar signs. O 47,454 O 44,000 48,750 none of the aboveConsider a system that computes the taxes owed by an individual. It computes the tax according to the following rubric: 1. No tax on the first $4000. 2. The next $1500 is taxed at 10%. 3. The next $28000 is taxed at 22%. 4. Any further amount is taxed at 40% To the nearest dollar, which of these is a valid boundary value test case? a) 1,500 b) 32,001 c) 33,501 d) 28,000
- What amount is payable to a state tax board if the original sales price is $3,000, and the tax rate is 3.5%?If the tax rate is 4.5% and total amount paid including tax is ₱2,455.75 and find Base price Tax paidCalculate the amount of property tax due: (Round your answer to the nearest cent.) Tax rate Assessed value Amount of property tax due $42.50 per $1,000 $ 105,000
- Consider a tax system where the first $40,000 of income is tax free, the next $40,000 is taxed at 10%, and all income above $80,000 is taxed at 20%. 1. Graph the total tax as a function of income. Be sure to label carefully. Тах Income 2. Graph the ATR(average) and MTR(marginal) rate. Label carefully. MTR, ATR 0.40 0.20 0.00 Income 3. Calculate the tax for individuals that earn: $20,000 Tax = ATR = %, MTR = $40,000 Tax = ATR = MTR = $60,000 Tax = ATR = MTR = $80,000 Tax = ATR = MTR = $100,000 Tax = ATR = MTR =(5) Applying the following hypothetical Federal Income Tax Rate Table, for a Single Tax-Filer earning $100,000 annually, calculate the following (Show your Calculations): a) Total Tax Due? b) Marginal Tax Rate? c) Effective Tax Rate?Suppose you earn $60,000 per year and pay taxes based on marginal tax rates. The first tax bracket, which taxes at 5 percent, ranges from $0 to $30,000. The second tax bracket, which taxes at 25 percent, ranges from $30,001 to $120,000. How much will you pay in total taxes? Instructions: Enter your answer as a whole number. %24