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Question: exhibit 114 taxable income taxes 0 23000 15 of...

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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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