What Is the Tax Liability for an Individual with $52,000

question 75

Multiple Choice

What is the tax liability for an individual with $52,000 of income, which includes $2,000 of dividends, if the tax rate is 15 percent on income up to $25,350 and 28 percent on income over $25,350?

• A)$11,704.50
• B)$11,264.50
• C)$14,000.00
• D)$14,560.00

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Definitions:

Simplify

Making a complex numerical or algebraic expression easier to handle by reducing it to a more basic form.

Square Root Property

A mathematical rule stating that if \(x^2 = a\), then \(x = \pm\sqrt{a}\), which is used to solve quadratic equations.

Equation

A mathematical statement that asserts the equality of two expressions, typically written in the form \(A = B\), where \(A\) and \(B\) are expressions.

Complex Solutions

Solutions to equations that include imaginary numbers, often involving the square root of a negative number.