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

question 110

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.
-Bill earned wages of $47,227, received $1837 in interest from a savings account, and contributed $ 3010 to a tax deferred retirement plan. He was entitled to a personal exemption of $3900 and had
Deductions totaling $7719. Find his adjusted gross income.

• A)$52,074
• B)$34,435
• C)$46,054
• D)$59,793

Differentiate between broad and specific thesis statements for essay writing.

Analyze the process of breaking bad habits through structured steps.

Appreciate the importance of environmental conservation and individual contributions towards it.

Understand the impact of binge drinking on college students and recognize the role of peer pressure.

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Definitions:

Latent Learning

Latent learning is the subconscious retention of information without reinforcement or immediate application, which becomes evident when a specific situation triggers it.

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, which in turn affects the likelihood of that behavior being repeated.

Law Of Effect

A principle in psychology that suggests behaviors followed by favorable consequences become more likely, whereas behaviors followed by unfavorable consequences become less likely.

Thorndike

American psychologist famous for his work on learning theory that led to the development of operant conditioning within behaviorism.