The Table Below Shows 2015 Federal Income-Tax Rates in Canada

question 55

Multiple Choice

The table below shows 2015 federal income-tax rates in Canada.
TABLE 18-1
-Refer to Table 18-1.If an individual had a taxable income of $120 000,how much total federal tax would be due?

• A)$6109
• B)$8959
• C)$31 200
• D)$24 494
• E)$28 020

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Definitions:

Competition

The rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix.

Independently Acting Buyers

are consumers who make purchasing decisions based on their own preferences and circumstances, without coordinating with others.

Freedom to Enter

The condition in a market where new firms can enter the industry without facing prohibitive barriers or regulations.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision or choosing between options.