If your taxable income is $30,000,how much tax would you owe?

A) $500
B) $1,000
C) $1500
D) $2,000

Question

If your taxable income is $30,000,how much tax would you owe?A) $500B) $1,000C) $1500D) $2,000

Angelica Arrunategui · Accepted Answer

Final Answer : B, Explanation :  The tax structure appears to be progressive, with the amount of taxes paid increasing as taxable income increases. Given the data, the tax owed on a $30,000 income would be interpolated between the taxes paid on $20,000 (which is $0) and $40,000 (which is $2,000). Since $30,000 is halfway between $20,000 and $40,000, the tax owed would be halfway between $0 and $2,000, which is $1,000.

If your taxable income is $30,000,how much tax would you owe?

A) $500
B) $1,000
C) $1500
D) $2,000

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