Solve the Problem $15 \%$ Marginal Rate Affects Income Starting At $\$ 8925$

question 166

Multiple Choice

Solve the problem. Refer to the table if necessary. 2013 Marginal Tax Rates, Standard Deductlons, and Exemptlons**


- Each higher marginal rate begins where the prior one leaves off. For example, for a single person, the $15 \%$ marginal rate affects income starting at $\$ 8925$ , which is where the $10 \%$ rate leaves off, and continuing up to \$36,250.
" This table ignores the effects of (i) exemption and deduction phase-outs that apply to high-income taxpayers and (ii) the alternative minimum tax (AMT) that affects many middle- and high-income taxpayers.
-Ken is head of household with a dependent child and a taxable income of $91,691. He also is entitled to a $1000 tax credit. Calculate the amount of tax owed.

• A)$17,063
• B)$16,425
• C)$17,425
• D)$21,923

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Definitions:

Leader Traits

Characteristic attributes such as personality, social skills, and physical attributes that are often associated with effective leadership.

Leadership Effectiveness

The extent to which a leader is able to achieve desired outcomes through guiding and influencing others.

Leader Behaviours

Actions and attitudes demonstrated by leaders that influence the motivation, performance, and well-being of followers.

Leadership Categorization Theory

A theory suggesting that people evaluate leaders based on how closely the leaders’ attributes match stereotypical or prototype attributes of leaders.