QuestionMiss Lee's tax is \$4500. Find her net chargeable income using the tax rates: 2\% for \$40000, 7\% for next \$40000, 12\% for next \$40000, and 17\% for the rest. Round to the nearest dollar.

Studdy Solution
Calculate the net chargeable income.
$$Net\, chargeable\, income = \$40000 + \$40000 + \$24166.67 = \$104167$$Miss Lee's net chargeable income, rounded to the nearest dollar, is \$104167.