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To determine her state income tax last year, Elena computed
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22 Apr 2020, 12:38
22 Apr 2020, 12:38
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To determine her state income tax last year, Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100, and subtracted $50 for each dependent that she claimed. If Elena's gross income was $34,500 and she claimed 2 dependents, how much did she determine her state income tax to be?
A. $1,600
B. $1,625
C. $1,650
D. $1,675
E. $1,700
A. $1,600
B. $1,625
C. $1,650
D. $1,675
E. $1,700
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Re: To determine her state income tax last year, Elena computed
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22 Apr 2020, 12:58
22 Apr 2020, 12:58
Carcass wrote:
To determine her state income tax last year, Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100, and subtracted $50 for each dependent that she claimed. If Elena's gross income was $34,500 and she claimed 2 dependents, how much did she determine her state income tax to be?
A. $1,600
B. $1,625
C. $1,650
D. $1,675
E. $1,700
A. $1,600
B. $1,625
C. $1,650
D. $1,675
E. $1,700
Elena computed 5 percent of her gross income, rounded the resulting figure down to the nearest $100....
10% of $34,500 = $3450
So, 5% of $34,500 = $1725
Rounded DOWN to the nearest $100, $1725 becomes $1700
... and subtracted $50 for each dependent that she claimed.
Elena has 2 dependents
So, we subtract a total of $100
$1700 - $100 = $1600
Answer: A
Cheers,
Brent
Re: To determine her state income tax last year, Elena computed
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29 Aug 2022, 23:47
29 Aug 2022, 23:47
Hello from the GRE Prep Club BumpBot!
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Thanks to another GRE Prep Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).
Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
