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Nathan is 24 years old, single, and works as an accountant in a salmon cannery in Alaska. His total wages for 2016 were $32,000. Federal income tax of $4,500 was withheld from his wages. His only other income was $260 of interest and he had no deductible expenses.
Calculate the income tax due or income tax refund on Nathan's 2016 individual income tax return. Use the tax formula for individuals and show your work.
Variable on the Vertical Axis
In graphing data, this refers to the dependent variable that is quantified along the vertical axis of a graph.
Variable on the Horizontal Axis
Refers to the independent variable in a graph that is plotted along the horizontal or x-axis and determines the values of other variables.
Slope
A measure of the steepness or incline of a line, indicating the rate at which values change along the line.
Positive Slope
A line or curve on a graph that moves upward from left to right, indicating a positive relationship between two variables.
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