Calculate the total amount of tax Beatrice pays?Beatrice has an income of $40000 in one year. She pays:no tax on the first $10000 of her…

Calculate the total amount of tax Beatrice pays?Beatrice has an income of $40000 in one year. She pays:no tax on the first $10000 of her…

Calculate the total amount of tax Beatrice pays?Beatrice has an income of $40000 in one year. She pays:no tax on the first $10000 of her…

Calculate the total amount of tax Beatrice pays?Beatrice has an income of $40000 in one year. She pays:no tax on the first $10000 of her…
Her tax liability is as follows:(1)Begin with 40,000 in earnings.(2) No tax on the first 10,000 — leaving remaining taxable earnings of 30,000(3) 10% of the next 10,000 is 1,000; this leaves remaining taxable earnings of 20,000(4) 25% of 20,000 is 5,000——————————————————————–The total tax liability is 0+1,000+5,000=$6,000——————————————————————-