Assume that Tom and Mason are in the 24% marginal tax bracket and the actual before-tax cost for Tom to drive to and from work is $0.30 per mile. What are Tom's and Mason's after-tax costs of commuting to and from work

The question incomplete! The complete question along with answer and explanation is provided below.

Question:

Eagle Life Insurance Company pays its employees $.30 per mile for driving their personal automobiles to and from work. The company reimburses each employee who rides the bus $100 a month for the cost of a pass. Tom, in his Mazda 2-seat Roadster, collected $100 for his automobile mileage, and Mason received $100 as reimbursement for the cost of a bus pass.

a. What are the effects of the $100 reimbursement on Tom's and Mason's gross income?

b. Assume that Tom and Mason are in the 24% marginal tax bracket and the actual before-tax cost for Tom to drive to and from work is $0.30 per mile. What are Tom's and Mason's after-tax costs of commuting to and from work?

Explanation:

a.

For Tom:

He is required to include the $100 in gross income therefore, he would have to pay after-tax cost on the reimbursement.

For Mason:

He is not required to include the $100 in gross income due to qualified transportation fringe.

b.

For Tom:

Marginal tax = 24%

The after-tax cost of commuting = 0.24*$100 = $24

The before-tax cost of commuting = $0 (since he was reimbursed)

For Mason:

The after-tax cost of commuting = $0

The before-tax cost of commuting = $0 (since he was reimbursed)

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

happy to

pls mark as brainliest

answer; false pretense;