Hi,
In the answer workings to practice question 3, there is:
41,700 x 20% = 8,340
95,300 x 40% = 38,120
2,000 @ 0% = 0
15,000 @ 33.75% = 5,062
13,000 @ 39.35 % = 5,116
Income Tax Liability = 56,288
Is this a typo? Because after adding these numbers up I have 56,638.
Or have a missed something?
Thank you for the help.
Charley
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Practice Question number 3: Karl (end of notes)
Its probably a typo - sorry
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