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Mathematics, 03.12.2020 06:10 hebiancao

Use the following approximations to estimate earnings. EI: 1.73% of Gross Income

CPP: 5% for Gross Income over $3,500 per year

Income Tax:

18% on Annual Taxable Income from $0.00 to $30,000

29% on Annual Taxable Income from $30,000 to $60,000

39% on Annual Taxable Income over $60,000

Example: Taxable Income is $45,000 per year; Annual Income Tax is approximately 18% of $30,000 plus 29% of ($45,000βˆ’$30,000)=$9,750.00

Sheri earns $600 a week. She pays $20 Union Dues (Non taxable) and $12 for
parking each week. Which of the following is the best estimate of Sheri's weekly Income Tax?

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Answers: 2

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Use the following approximations to estimate earnings. EI: 1.73% of Gross Income

CPP: 5...
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