A) $9,500
B) $57,000
C) $152,000
D) Cannot be determined from the information provided.
Answer: A
Explanation: A) Step 1: 47,500 / 125,000 = 38% tax rate. Step 2: 150,000 income – 125,000 carryforward = 25,000 × 38% rate = tax payable.
A) $9,500
B) $57,000
C) $152,000
D) Cannot be determined from the information provided.
Answer: A
Explanation: A) Step 1: 47,500 / 125,000 = 38% tax rate. Step 2: 150,000 income – 125,000 carryforward = 25,000 × 38% rate = tax payable.