4
QuizMultiple Choice

Tax Withholdings — Quiz

Question 4 • Financial Math

Timothy has a taxable income of $85,000 The tax brackets are 10 percent for up to $20,000 , 15 percent for $20,001 to $50,000 , and 25 percent for income $50,001 and over. How much federal income tax does Timothy owe?

Answer
A
15 dollars comma 250 point 0 0
B
$8,749.75
C
$21,250.00
D
$42,500.00
Previous
Next