Tax owed: According to the Oklahoma Income Tax Table for 2007, the income tax owed by an Oklahoma resident who is married and filing jointly with a taxable income above $50,000 is $2374 plus 5.65% of the taxable income over $50,000.
a. Use a formula to express the tax owed as a function of the taxable income, assuming that the taxable income is above $50,000. Be sure to explain the meaning of the letters you choose and the units.
b. What is the tax on a taxable income of $58,650? Round your answer to the nearest dollar.
c. For what taxable income would the tax be $3504?
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here