Select the correct answer. Use this tax table to find how much tax you need to pay on a taxable income of $40,000.
The tax is:
If taxable
income is over-
But not
over-
SO
$7,825
$31,850
$77,100
$7.825 10 percent of the
amount over SO
$31,850 $782.50 plus 15 percent
of the amount over
7,825
$77,100 $4,386.25 plus 25
percent of the amount
over 31,850
$160,850 $15,698.75 plus 28
percent of the amount
over 77.100
$349.700 $39,148.75 plus 33
percent of the amount
over 160,850
no limit S101,469.25 plus 35
percent of the amount
over 349.700
S160,850
S349,700
OA
$6,423.75
OB
$8.150.50
OC. $12.536.25
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