96
QuizMultiple Choice

Home Ownership — Cumulative exam

Question 96 • Financial Math - MA2007

Tina lives in a state that charges her 4.5% state income tax on her federal taxable income. If her federal taxable income is $61,600, how much does Tina pay in state income tax?

Answer
A
$1,545
B
$227
C
$4,372
D
$2,772

Explanation

Convert 4.5% to a decimal: 0.045. Multiply Tina’s federal taxable income by the tax rate: $61,600 × 0.045 = $2,772. Tina pays $2,772 in state income tax, which is choice d.

AI-written and checked against the verified answer.

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