Business, 01.12.2021 20:10 dbenjamintheflash5

You have a job at a real-estate agency in the small country of Cocovania, where you are paid 72,000 conchs (the currency of Cocovania) a year. You are now faced with the decision of whether to work a second job at the local university teaching a real-estate investing class, where the pay is 45,000 conchs a year. Social insurance tax and income tax rates are listed below. Social insurance taxes: 7.65% on your first 110,100 conchs of total income

Taxable income (in conchs) Tax rate
0-8,700 10%
8,700-35,350 15%
35,350-85,650 25%
85,650-178,650 28%

Required:
Using the information above, what would be the total amount you pay in social insurance taxes on your second job?

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You have a job at a real-estate agency in the small country of Cocovania, where you are paid 72,000...

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