if-a-progressive-tax-system-has-rates-of-10-15-and-20-for-incomes-of-40000-80000

Question

If a progressive tax system has rates of 10%, 15%, and 20% for incomes of $40,000, $80,000, and $120,000 respectively, how much tax is owed by someone earning $120,000?

Accepted Answer

$24,000

Answer

$30,000

Answer

$18,000

Answer

$12,000

If a progressive tax system has rates of 10%, 15%, and 20% for incomes of \$40,000, \$80,000, and \$120,000 respectively, how much tax is owed by someone earning \$120,000?