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# Taxation: calculate taxable income in two scenarios

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The tax rates are as shown. Your firm currently has taxable income of \$79,400. How much additional tax will you owe if you increase your taxable income by \$21,000?

Taxable Income
Tax Rate

\$ 0 - 50,000
15%

50,001 - 75,000
25%

75,001 - 100,000
34%

100,001 - 335,000
39%

\$7,004
\$7,014
\$7,140
\$7,160
\$7,174

##### Solution Summary

The expert calculates the taxable income in two scenarios.

##### Solution Preview

Tax Rate till \$100,000 taxable income is 34%, and current taxable income is 79,000

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