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Gina's taxable income last year was [tex] \$62,200 [/tex]. According to the tax table below, how much tax does she have to pay if she files with the "Single" status?

\[
\begin{array}{|c|c|}
\hline
\text{Taxable Income Range} & \text{Single} \\
\hline
62,000 - 62,050 & 11,694 \\
62,050 - 62,100 & 11,706 \\
62,100 - 62,150 & 11,719 \\
62,150 - 62,200 & 11,731 \\
62,200 - 62,250 & 11,744 \\
62,250 - 62,300 & 11,756 \\
\hline
\end{array}
\]

Options:
A. [tex] \$8,499 [/tex]
B. [tex] \$11,744 [/tex]
C. [tex] \$10,559 [/tex]
D. [tex] \$11,731 [/tex]

Answer :

To determine how much tax Gina has to pay based on her taxable income of [tex]$62,200 under the "Single" status, we need to refer to the provided tax table.

Here's a step-by-step explanation:

1. Identify the Tax Bracket:
Gina's taxable income is $[/tex]62,200. We need to find the range in the tax table that her income falls under.

2. Examine the Table Ranges:
Look at the tax table for "Single" status:
- [tex]$62,150 to $[/tex]62,200: Tax is [tex]$11,731
- $[/tex]62,200 to [tex]$62,250: Tax is $[/tex]11,744

3. Locate Where [tex]$62,200 Fits:
Since $[/tex]62,200 fits precisely into the range of [tex]$62,200 to $[/tex]62,250, Gina's tax amount corresponds to this range.

4. Determine the Tax Amount:
For the income range of [tex]$62,200 to $[/tex]62,250, the tax amount is [tex]$11,744.

Therefore, the amount of tax Gina has to pay is $[/tex]11,744.

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