Answer
$15790$
Work Step by Step
Using the table we get:
tax liability on first $110000$: $110000\cdot0.133=14630$
tax liability on remaining $40000$: $40000\cdot0.029=1160$
Total tax liability: $14630+1160=15790$
Thinking Mathematically (6th Edition)
by Blitzer, Robert F.
Published by
Pearson
ISBN 10:
0321867327
ISBN 13:
978-0-32186-732-2
Chapter 8 - Personal Finance - 8.2 Income Tax - Exercise Set 8.2 - Page 507: 21
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