Question

david’s salary totals $79,000 per year. he can expect to pay federal income tax at a rate of 23.60%. how much money will david pay in federal income taxes every year?
a. $60,356
b. $19,110
c. $18,644
d. $22,316

please select the best answer from the choices provided

○ a
○ b
○ c
○ d

Explanation:

Step1: Convert percentage to decimal

To find the tax amount, we first convert the tax rate from a percentage to a decimal. The tax rate is 23.60%, so we divide by 100: $23.60\% = \frac{23.60}{100} = 0.2360$.

Step2: Calculate tax amount

We multiply David's annual salary by the tax rate (in decimal form) to find the tax amount. His salary is $79,000, so the tax amount is $79,000 \times 0.2360$. Let's calculate that: $79000 \times 0.2360 = 79000 \times \frac{2360}{10000} = 79 \times 236 = 18644$.

Answer:

c. $18,644