document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1163409>Question 1163409</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The Canada in 2019 had five federal income tax brackets, with rates of 15%, 20.5%, 26%, 29% and 33%. If you fall into the 33% bracket, that doesn’t mean that the entirety of your taxable income will be subject to a 33% tax. Instead, 33% is your top marginal tax rate.<BR>\n" );
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document.write( "FEDERAL TAX BRACKETS 2018  -  2019	Tax rate (%)<BR>\n" );
document.write( "$46,605 or less	                              15<BR>\n" );
document.write( "$46,605 to $93,208	                      20.5<BR>\n" );
document.write( "$93,208 to $144,489	                      26<BR>\n" );
document.write( "$144,489 to $205,842	                      29<BR>\n" );
document.write( "More than $205,842	                      33\r<BR>\n" );
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document.write( "a)	Create a Mathematical Model that represents the aforementioned information to calculate the annual income tax. \r<BR>\n" );
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document.write( "b)	How much annual income tax you will have to pay if your monthly taxable income is $ 12,000.\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #787701 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=787701\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> annual taxable income formula:\r<BR>\n" );
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document.write( "if your taxable income is:\r<BR>\n" );
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document.write( "$46,605 or less, than your tax is annual taxable income * 15%\r<BR>\n" );
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document.write( "$46,605 to $93,208, than your tax is 20.5% * (annual taxable income - $46,605) + 15% * $46,605\r<BR>\n" );
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document.write( "$93,208 to $144,489, than your tax is 26% * (annual taxable income - $93,208) + 15% * $46,605 + 20.5% * ($93,208 - $46,605)\r<BR>\n" );
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document.write( "$144,489 to $205,842, than your tax is 29% * (annual taxable income - $144,489) + 15% * $46,605 + 20.5% * ($93,208 - $46,605) + 26% * ($144,489 - $93,208)\r<BR>\n" );
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document.write( "More than $205,842, than your tax is 33% * (annual taxable income - $205,842) + 15% * $46,605 + 20.5% * ($93,208 - $46,605) + 26% * ($144,489 - $93,208) + 29% * ($205,842 - $144,489)\r<BR>\n" );
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document.write( "the above are the mathematical formulas involved.\r<BR>\n" );
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document.write( "the tax table applies the mathematical formulas for you, so that what you see is:\r<BR>\n" );
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document.write( "if your taxable income is:\r<BR>\n" );
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document.write( "$46,605 or less, than your tax is annual taxable income * 15%\r<BR>\n" );
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document.write( "$46,605 to $93,208, than your tax is 20.5% * (annual taxable income - $46,605) + $6,990.75\r<BR>\n" );
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document.write( "$93,208 to $144,489, than your tax is 26% * (annual taxable income - $93,208) + $16,544.37\r<BR>\n" );
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document.write( "$144,489 to $205,842, than your tax is 29% * (annual taxable income - $144,489) + $29,877.43\r<BR>\n" );
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document.write( "More than $205,842, than your tax is 33% * (annual taxable income - $205,842) + $47,669.80\r<BR>\n" );
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document.write( "if your monthly taxable income is $12,000, then your annual taxable income will be 12 * $12,000 = $144,000.\r<BR>\n" );
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document.write( "since you are in the tax bracket of $93,208 to $144,489, then your tax is 26% * ($144,000 minus $93,208) + $16,544.37 = $29,750.29\r<BR>\n" );
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