Business, 03.03.2020 00:46 danksans7011
Jerry earns a base salary of $50,000 as a photographer and is subject to the following hypothetical income tax bracket. Jerry is considering taking on an additional photoshoot that will increase his income by $5,000. In order for Jerry to deem the photoshoot worth his time, it must earn him $3,000 after taxes. Please round all answers to two decimal places.
Income Tax Rate
$0-$10,000 5%
$10,001-$30,000 10%
$30,001-$50,000 20%
$50,001+ 50%
(a) What is the marginal tax rate associated with taking on this photoshoot?
(b) Given the information above, will Jerry undertake this extra photoshoot?
Answers: 1
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Jerry earns a base salary of $50,000 as a photographer and is subject to the following hypothetical...
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