Simplify the Expression

question 78

Multiple Choice

Simplify the expression.

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Definitions:

Marginal Rates

Rates that apply to the next dollar of taxable income; often used in the context of income tax, where different income levels are taxed at different rates.

Taxable Income

The portion of an individual's or corporation's income that is subject to taxes by government authorities.

Federal Income Tax

A tax levied by the U.S. federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.

Payroll Tax

Taxes imposed on employers and employees, based on the wages and salaries paid to workers, used to fund social security and other government programs.