In a certain country, income tax is assessed as follows. there is no tax on income up to $15000. any income over $15000 is taxed at a rate of 10%, up to an income of $25000. any income over $25000 is taxed at 15%. how much tax is assessed on an income of $22000?

$700

Step-by-step explanation:

There is no tax on income up to $15,000

Any income over $15,000 up to an income of $25,000 is taxed at a rate of  10%.

We will calculate the tax on an income of $22,000

First we subtract $15,000 from the total income. that is tax-free.

$22,000 - $15,000

= $ 7,000

Now the taxable income is $7,000 at a rate of 10%

So 10% of 7,000

= 0.1 × 7,000

= $700

Tax is assessed $700 on an income of $22,000.

this story was prepared by jim

mccullaugh in los angeles and

al stewart in new york.

new york the colossal success of "top gun" appears to have dramatically altered madison avenue's

perception of corporate sponsorship

of home video projects.

the paramount home video re- lease, featuring a 60- second diet

pepsi spot, was by no means the

first prerecorded video to carry an advertiser's plug, but it was the

first major theatrical release to do so. in the aftermath of the title's

success, paramount is widely ex- pected to ink a similar deal for

"crocodile dundee" or "star trek

iv" or both.

corporate america's new attraccds push british

recording sales

to 19% gain

london fueled by the compact

disk boom, the value of u.k. manu- facturer shipments of recordings

rose 19% in the 12 -month period ended march 1987, according to the

british phonographic industry.

total value of u.k. shipments for

the period was $755 million for all

configurations. (all value figures

are based on an exchange rate of

$1.68 to the pound sterling.)

cd sales totaled 10.7 million units

worth $121.3 million- compared

with 3.7 million units worth $39.5

million in the prior 12 months -and

accounted for two -thirds of the

overall gain in trade value. at present growth rates, says the bpi, cd

sales for calendar 1987 will reach 20

(continued on page 79)

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