Using the Following Table, Calculate the Taxes for an Individual

question 51

Multiple Choice

Using the following table, calculate the taxes for an individual with taxable income of $20,800. $$\begin{array} { l r } 10 \% & \text { Up to } \$ 8,500 \\15 \% & \$ 8,500 - \$ 34,500 \\25 \% & \$ 34,500 - \$ 83,600 \\28 \% & \$ 83,600 - \$ 174,400 \\33 \% & \$ 174,400 - \$ 379,150 \\35 \% & \text { Over } \$ 379,150\end{array}$$

• A) $850.
• B) $2,695.
• C) $5,175.
• D) $6,025.
• E) $20,800.

---

Definitions:

Total Costs

The total expense of production, encompassing both non-changing and changing costs.

Average Product

The output per unit of input, calculated by dividing total product by the total quantity of input used to produce that output.

Nonlabor Resources

Inputs or resources used in production that do not include human labor, such as raw materials, machinery, and land.

Marginal Product

The additional output generated by adding one more unit of a specific input, such as labor or capital, while holding other inputs constant.