Question: exhibit 114 taxable income taxes 0 23000 15 of...
Question details
Exhibit 11-4
| Taxable Income | Taxes |
| $0 - $23,000 | 15% of taxable income |
| $23,001 - $42,000 | $3,450 + 20% of everything over $23,000 |
| $42,001 - $100,000 | $7,250 + 25% of everything over $42,000 |
| Greater than $100,000 | $21,750 + 30% of everything over $100,000 |
Refer to Exhibit 11-4. If a person’s taxable income is $30,000, how much does he pay in taxes?
| $1,400 |
| $3,900 |
| $4,850 |
| $4,345 |
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