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 Apr 21, 2020
 #1
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45,600 - 43,000  =  2,600 at 40%  =  2,600 x 0.40  =  1040.00

43,000 - 11,000  =  32,000 at 20%  =  32,000 x 0.20  =  6400.00

No tax below 11,000.

 

1040.00 + 6400.00  =  7440.00

 Apr 22, 2020

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