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Reference no: EM132110545

If the first $20,000 of your income (or any portion thereof) is taxed at 10%, and the next $30,000 of your income (or any portion thereof) is taxed at 20%, and any income you make above that is taxed at a 30% rate, then a person who earned an income of $500,000 will pay the following amount in taxes:

  • $100,000
  • $150,000
  • The correct answer is different from the options provided.
  • $143,000
  • $156,000

Reference no: EM132110545

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