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Kathleen murray, who is unmarried and has no children, has added up her taxable income for 2017 but needs help calculating how much tax she owes. she asks you how much tax she will have to pay on her $45,000 of taxable income, which includes $3,000 of dividends paid by a u.s. corporation and $2,000 of gains from the sale of 100 shares of stock she had held for more than one year. what do you tell her?
a. $5,738.75
b. $5,988.75
c. $6,488.75
d. $6,988.75

Respuesta :

YellowGold
Kathleen Murray’s taxable income for 2017 is $45,000 which is within the tax income bracket of $37.950 to $91,900. Tax rate is 25%, and tax owed is $5,226.25 plus 25% of the excess over $37,950.
$45,000 - $37,950 = $7,050, excess over $37,950
Tax owed = $5,226.25 + 0.25 x $7,050
Tax owed = $6,988.75

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