The income tax policy for residents of a tiny island nation that uses U. S. Dollars as its currency is as follows: The first $20,000 of a citizen’s income is taxed at a rate of 10%. The next $30,000 of the citizen’s income is taxed at a rate of 18%. Any amount over $50,000 is taxed at a rate of 27%.

How much income tax would an individual with an income of x dollars be charged, where x is at least $50,000?

0.10(20,000) + 0.18(30,000) + 0.27x

0.10(x − 20,000) + 0.18(x − 30,000) + 0.27x

0.10(20,000) + 0.18(30,000) + 0.27(x − 50,000)

0.10(20,000) + 0.18(30,000) + 0.27(50,000 − x)