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Sure! Let's calculate the tax due for each given income based on the provided tax brackets and marginal tax rates. We will be using the tax functions directly to compute the tax owed for each income.
### Income: [tex]$5,000 Given income \(\$[/tex]5,000\) falls within the first tax bracket [tex]\(\$0 - \$10,275\)[/tex] with a marginal tax rate of [tex]\(10\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.10 \times \$5,000 = \$500 \][/tex]
### Income: [tex]$20,000 Given income \(\$[/tex]20,000\) falls within the second tax bracket [tex]\(\$10,276 - \$41,175\)[/tex] with a marginal tax rate of [tex]\(12\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.12 \times \$20,000 - 205.50 = \$2,400 - 205.50 = \$2,194.50 \][/tex]
### Income: [tex]$50,000 Given income \(\$[/tex]50,000\) falls within the third tax bracket [tex]\(\$41,176 - \$89,075\)[/tex] with a marginal tax rate of [tex]\(22\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.22 \times \$50,000 - 4,323.00 = \$11,000 - 4,323.00 = \$6,677.00 \][/tex]
### Income: [tex]$100,000 Given income \(\$[/tex]100,000\) falls within the fourth tax bracket [tex]\(\$89,076 - \$170,050\)[/tex] with a marginal tax rate of [tex]\(24\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.24 \times \$100,000 - 6,105.50 = \$24,000 - 6,105.50 = \$17,894.50 \][/tex]
### Income: [tex]$200,000 Given income \(\$[/tex]200,000\) falls within the fifth tax bracket [tex]\(\$170,051 - \$215,950\)[/tex] with a marginal tax rate of [tex]\(32\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.32 \times \$200,000 - 9,070.32 = \$64,000 - 9,070.32 = \$54,929.68 \][/tex]
### Income: [tex]$600,000 Given income \(\$[/tex]600,000\) falls within the seventh tax bracket [tex]\(>\$539,900\)[/tex] with a marginal tax rate of [tex]\(37\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.37 \times \$600,000 - 36,985.67 = \$222,000 - 36,985.67 = \$185,014.33 \][/tex]
### Summary
The tax values for the given incomes are:
- For [tex]\(\$5,000\)[/tex]: [tex]\(\$500.00\)[/tex]
- For [tex]\(\$20,000\)[/tex]: [tex]\(\$2,194.50\)[/tex]
- For [tex]\(\$50,000\)[/tex]: [tex]\(\$6,677.00\)[/tex]
- For [tex]\(\$100,000\)[/tex]: [tex]\(\$17,894.50\)[/tex]
- For [tex]\(\$200,000\)[/tex]: [tex]\(\$54,929.68\)[/tex]
- For [tex]\(\$600,000\)[/tex]: [tex]\(\$185,014.33\)[/tex]
This concludes the calculation of the tax values based on the provided income and tax brackets.
### Income: [tex]$5,000 Given income \(\$[/tex]5,000\) falls within the first tax bracket [tex]\(\$0 - \$10,275\)[/tex] with a marginal tax rate of [tex]\(10\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.10 \times \$5,000 = \$500 \][/tex]
### Income: [tex]$20,000 Given income \(\$[/tex]20,000\) falls within the second tax bracket [tex]\(\$10,276 - \$41,175\)[/tex] with a marginal tax rate of [tex]\(12\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.12 \times \$20,000 - 205.50 = \$2,400 - 205.50 = \$2,194.50 \][/tex]
### Income: [tex]$50,000 Given income \(\$[/tex]50,000\) falls within the third tax bracket [tex]\(\$41,176 - \$89,075\)[/tex] with a marginal tax rate of [tex]\(22\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.22 \times \$50,000 - 4,323.00 = \$11,000 - 4,323.00 = \$6,677.00 \][/tex]
### Income: [tex]$100,000 Given income \(\$[/tex]100,000\) falls within the fourth tax bracket [tex]\(\$89,076 - \$170,050\)[/tex] with a marginal tax rate of [tex]\(24\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.24 \times \$100,000 - 6,105.50 = \$24,000 - 6,105.50 = \$17,894.50 \][/tex]
### Income: [tex]$200,000 Given income \(\$[/tex]200,000\) falls within the fifth tax bracket [tex]\(\$170,051 - \$215,950\)[/tex] with a marginal tax rate of [tex]\(32\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.32 \times \$200,000 - 9,070.32 = \$64,000 - 9,070.32 = \$54,929.68 \][/tex]
### Income: [tex]$600,000 Given income \(\$[/tex]600,000\) falls within the seventh tax bracket [tex]\(>\$539,900\)[/tex] with a marginal tax rate of [tex]\(37\%\)[/tex].
The tax due is calculated as:
[tex]\[ \text{Tax} = 0.37 \times \$600,000 - 36,985.67 = \$222,000 - 36,985.67 = \$185,014.33 \][/tex]
### Summary
The tax values for the given incomes are:
- For [tex]\(\$5,000\)[/tex]: [tex]\(\$500.00\)[/tex]
- For [tex]\(\$20,000\)[/tex]: [tex]\(\$2,194.50\)[/tex]
- For [tex]\(\$50,000\)[/tex]: [tex]\(\$6,677.00\)[/tex]
- For [tex]\(\$100,000\)[/tex]: [tex]\(\$17,894.50\)[/tex]
- For [tex]\(\$200,000\)[/tex]: [tex]\(\$54,929.68\)[/tex]
- For [tex]\(\$600,000\)[/tex]: [tex]\(\$185,014.33\)[/tex]
This concludes the calculation of the tax values based on the provided income and tax brackets.
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