Looking for reliable answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.
Sagot :
To determine which worker had the lowest taxable income last year, we need to calculate the taxable income for each worker by subtracting the standard deduction and the exemptions (with each exemption valued at \[tex]$3650) from the gross income. Here's the step-by-step solution:
1. Calculate Taxable Income for Dolly:
- Gross Income: \$[/tex]51,678
- Standard Deduction: \[tex]$8,350 - Number of Exemptions: 2 (each exemption is \$[/tex]3,650)
- Exemption Total: [tex]\(2 \times \$3,650 = \$7,300\)[/tex]
- Taxable Income: [tex]\(\$51,678 - \$8,350 - \$7,300 = \$36,028\)[/tex]
2. Calculate Taxable Income for Emiliano:
- Gross Income: \[tex]$45,231 - Standard Deduction: \$[/tex]5,700
- Number of Exemptions: 1 (each exemption is \[tex]$3,650) - Exemption Total: \(1 \times \$[/tex]3,650 = \[tex]$3,650\) - Taxable Income: \(\$[/tex]45,231 - \[tex]$5,700 - \$[/tex]3,650 = \[tex]$35,881\) 3. Calculate Taxable Income for Jerry: - Gross Income: \$[/tex]48,099
- Standard Deduction: \[tex]$5,700 - Number of Exemptions: 2 (each exemption is \$[/tex]3,650)
- Exemption Total: [tex]\(2 \times \$3,650 = \$7,300\)[/tex]
- Taxable Income: [tex]\(\$48,099 - \$5,700 - \$7,300 = \$35,099\)[/tex]
4. Calculate Taxable Income for Yolanda:
- Gross Income: \[tex]$55,587 - Standard Deduction: \$[/tex]8,350
- Number of Exemptions: 3 (each exemption is \[tex]$3,650) - Exemption Total: \(3 \times \$[/tex]3,650 = \[tex]$10,950\) - Taxable Income: \(\$[/tex]55,587 - \[tex]$8,350 - \$[/tex]10,950 = \[tex]$36,287\) Comparing the taxable incomes: - Dolly: \$[/tex]36,028
- Emiliano: \[tex]$35,881 - Jerry: \$[/tex]35,099
- Yolanda: \[tex]$36,287 From these calculations, the worker with the lowest taxable income is Jerry with a taxable income of \$[/tex]35,099.
Therefore, the correct answer is:
C. Jerry
- Standard Deduction: \[tex]$8,350 - Number of Exemptions: 2 (each exemption is \$[/tex]3,650)
- Exemption Total: [tex]\(2 \times \$3,650 = \$7,300\)[/tex]
- Taxable Income: [tex]\(\$51,678 - \$8,350 - \$7,300 = \$36,028\)[/tex]
2. Calculate Taxable Income for Emiliano:
- Gross Income: \[tex]$45,231 - Standard Deduction: \$[/tex]5,700
- Number of Exemptions: 1 (each exemption is \[tex]$3,650) - Exemption Total: \(1 \times \$[/tex]3,650 = \[tex]$3,650\) - Taxable Income: \(\$[/tex]45,231 - \[tex]$5,700 - \$[/tex]3,650 = \[tex]$35,881\) 3. Calculate Taxable Income for Jerry: - Gross Income: \$[/tex]48,099
- Standard Deduction: \[tex]$5,700 - Number of Exemptions: 2 (each exemption is \$[/tex]3,650)
- Exemption Total: [tex]\(2 \times \$3,650 = \$7,300\)[/tex]
- Taxable Income: [tex]\(\$48,099 - \$5,700 - \$7,300 = \$35,099\)[/tex]
4. Calculate Taxable Income for Yolanda:
- Gross Income: \[tex]$55,587 - Standard Deduction: \$[/tex]8,350
- Number of Exemptions: 3 (each exemption is \[tex]$3,650) - Exemption Total: \(3 \times \$[/tex]3,650 = \[tex]$10,950\) - Taxable Income: \(\$[/tex]55,587 - \[tex]$8,350 - \$[/tex]10,950 = \[tex]$36,287\) Comparing the taxable incomes: - Dolly: \$[/tex]36,028
- Emiliano: \[tex]$35,881 - Jerry: \$[/tex]35,099
- Yolanda: \[tex]$36,287 From these calculations, the worker with the lowest taxable income is Jerry with a taxable income of \$[/tex]35,099.
Therefore, the correct answer is:
C. Jerry
We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.