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

question 36

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.
-Kyle is single and earned wages of $34,036. He received $362 in interest from a savings account. He contributed $549 to a tax-deferred retirement plan. He had $405 in itemized deductions from
Charitable contributions. Calculate his adjusted gross income.

• A)$34,947
• B)$34,542
• C)$33,849
• D)$33,444

---

Definitions:

One Important Activity

Refers to a singular task or endeavor that is of significant importance or priority within a particular context or situation.

Business Writers

Professionals specialized in creating various business documents, including reports, proposals, and memos.

Clarity

The quality of being clear, understandable, and free from ambiguity in communication or expression.

Equity

The concept of fairness and justice within the context of various aspects such as finance, law, and employment.