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Paying Your Taxes Math Quiz
QUESTION 2 of 15: You earned $62,715 this year and your Income tax calculator says you owe $8,818 in taxes. But you neglected to deduct
$1,000 for your dependent Grandfather and the $5,000 you put in an IRA. This reduces your income by $6,000 to $56,715. Your new effective
tax rate is 10.70%. What is the difference in your old $62,715 based tax debt and the updated tax debt with another dependent and the IRA
contribution?
O
O
O
a) $2,749.50
b) $4,215,50
c) 55,926.71
d) $6,068,50
Submit