The amount of federal income tax that he owes will be $16,974.50.
The missing table is given below.
The tax payable is the portion of taxable income that is paid to the government. It is the source of revenue for the government. The amount of tax payable varies as per the tax rate applicable of different tax slabs.
Mustafa earned $95,000 in taxable income in a year from his job as a software developer.
Then the amount of federal income tax that he owes will be
⇒ $14,382.50 + ($95,000 – $84,200) × 24%
⇒ $14,382.50 + $2,592
⇒ $16,974.50
More about the taxable payment link is given below.
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