Return to q Given the folllowing tax structure: Taxpayer Mae Pedro Salary $ 40,500 $ 53,000 Total Tax $ 2,349 2?? a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? Answer is complete but not entirely correct. Minimum tax $3,074 b. This would result in what type of tax rate structure? Answer is complete and correct. Tax rate structure Regressivel

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Given the following tax structure:
Salary
$ 40,500
Taxpayer
Total Tax
$ 2,349
Pedro
000 ES $
a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid?
X Answer is complete but not entirely correct.
$3,074
b. This would result in what type of tax rate structure?
Answer is complete and correct.
Tax rate structure
Regressive
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Transcribed Image Text:Return to question Given the following tax structure: Salary $ 40,500 Taxpayer Total Tax $ 2,349 Pedro 000 ES $ a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable with respect to the amount of tax paid? X Answer is complete but not entirely correct. $3,074 b. This would result in what type of tax rate structure? Answer is complete and correct. Tax rate structure Regressive < Prev 4 of 5 Next > 5:03 AM x> ツ 10/26/2021 61°F to search N4
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