Julia’s gross pay was $4,500 last year. the federal income tax withholding from her pay was 13% of her gross pay. julia determined the federal income tax she owes is $495. how much of a refund can julia expect?
$64.35

$90.00

$430.65

$585.00

amount of refund Julia expect is $90

correct option is $90.00

Explanation:

given data

gross pay = $4,500

federal income tax pay = 13%

federal income tax owes = $495

to find out

How much of a refund can Julia expect

solution

we know here Gross pay and federal income tax pay rate so

After federal income tax

amount will = 13 % of $4500  = 0.13 × 4500 = $585

so that amount of refund Julia can expect

amount of refund Julia expect is = $585 - $495

so amount of refund Julia expect is $90

so correct option is $90.00

amount of refund Julia expect is $90

correct option is $90.00

Explanation:

given data

gross pay = $4,500

federal income tax pay = 13%

federal income tax owes = $495

to find out

How much of a refund can Julia expect

solution

we know here Gross pay and federal income tax pay rate so

After federal income tax

amount will = 13 % of $4500  = 0.13 × 4500 = $585

so that amount of refund Julia can expect

amount of refund Julia expect is = $585 - $495

so amount of refund Julia expect is $90

so correct option is $90.00

answer; is usually (less than) the socially optimal level of consumption;