Business, 27.11.2019 03:31 myhomeacc32

Suppose the tax rate on the first $10,000 of income is 0 percent; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $20,000; and 40 percent on income over $70,000. family a has an income of $120,000 and family b an income of $55,000.
what is the tax bill of each?
a. $32,000 for a and $7500 for b
b. $34,000 for a and $7500 for b
c. $48,000 for a and $16,500 for b
d. $32,000 for a and $6600 for b

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Suppose the tax rate on the first $10,000 of income is 0 percent; 10 percent on the next $20,000;...

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