107 792
Assignments Done
100%
Successfully Done
In August 2024

# Answer to Question #281480 in Finance for suveetha

Question #281480

1. Naema's salary for a month is RM7 526. She needs to contribute her salary for income tax.

a) Find her annual salary and compute her average tax rate for year 2019.

Income bracket Tax rates Income Tax owed Avera e tax rate

RMO - RM 20 000 0%

RM20 001 - RM 40 000 14 0/0

RM40 001 - RM 60 000 21 %

RM60 001 and above 24 %

(5 Marks) b) Find the marginal tax rate if her salary increases to RM8,455.

Income bracket Tax rates Income Tax owed Mar inal tax rate

RMO - RM 20 000 0%

RM20 001 - RM 40 000 14 %

RM40 001 - RM 60 000 21 %

RM60 001 and above 24 %

(5 Marks)

[Total: 10 Marks]

1
2021-12-20T14:43:58-0500

1.a)

"7526\\times12=90312"

"Tax=0.24\\times90312=21674.88"

b)

"8455\\times12=101460"

"Tax=0.24\\times101460=24350.40"

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!