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Financial Math
Tax Withholdings — Quiz
Question 4
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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
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