Jim is calculating his income tax for the year. He earned $54,400. The document said that for incomes between $50,000 and $80,000, the tax is $10,000 plus 25% of any amount over $50,000. How much tax will Jim owe?
Jim is calculating his income tax for the year. He earned $54,400. The document said that for incomes between $50,000 and $80,000, the tax is $10,000 plus 25% of any amount over $50,000.