To calculate the tax on a salary of $40,000 per year using the tax bracket and the piecewise function, we apply the corresponding function for the tax bracket that includes the salary.
Given that $40,000 falls within the second tax bracket ($10,276 to $41,175), we will use the corresponding piecewise function to calculate the tax:
Tax = 0.12x - 205.50
Substitute the salary into the function:
Tax = 0.12 * $40,000 - $205.50
Tax = $4,800 - $205.50
Tax = $4,594.50
Therefore, the tax on a salary of $40,000 per year, based on the given tax brackets and piecewise function, would be $4,594.50.
To find the effective tax rate, we divide the total tax by the total income and multiply by 100 to get the percentage:
Effective Tax Rate = (Tax / Income) * 100
Effective Tax Rate = ($4,594.50 / $40,000) * 100
Effective Tax Rate ≈ 11.49%
Hence, the effective tax rate for a salary of $40,000 is approximately 11.49%.
Answer:
Step-by-step explanation:
