cilearn.csuci.edu Page 50. Fill out the table below for X, Y, Z Before-Tax Reven

Question

cilearn.csuci.edu Page 50. Fill out the table below for X, Y, Z Before-Tax Revenue Tax Rate Your Take-home After-Tax Revenue (amount Paid Tax Rate to Gov) 30% $154,000 25,000 $21,250 130,000 20% a. b. c. d. S90,000, 15%, si 04,000 S90,000, 25%, $100,000 $220,000, 25%, $100,000 S220.000, 15%, $104,000 51. In the above problem, what are the take-home percentages? Before-Tax Revenue Tax Rate Your Take-homeAfter-Tax Revenue (amount Paid to Gov) Tax Rate 30% $154,000 25,000 $21,250 130,000 20% a. b. c. d 305. I 5%, 20% 305.85%,20% 70%,15%, 80% 70%, 85%, 80%

Explanation / Answer

After tax revenue = Before tax revenue - Tax

X - (30%*X) = $154000

70%X = $154000

X = $220000

$25000 - (Y% *$25000) = $21250

y = ($25000-21250) / 25000 * 100

Y = 15%

$130000 - 20%*$130000 = Z

Z = $130000 - $24000

Z = $104000

Correct answer is $220000,15%,$104000

Option d is correct

Taken home % = 100% -tax rate

1. 100% - 30% = 70%

2. 100% - 15% = 85%

3. 100% - 20% = 80%

Option d is correct

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