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7-2 MODELING TAX SCHEDULES

7-2 MODELING TAX SCHEDULES. OBJECTIVES. Construct income tax graphs using compound equations. flat tax proportional tax progressive tax system tax bracket regressive tax schedule. Key Terms. Example 1.

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7-2 MODELING TAX SCHEDULES

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  1. 7-2MODELING TAX SCHEDULES OBJECTIVES Constructincome tax graphs using compound equations.

  2. flat tax proportional tax progressive tax system tax bracket regressive tax schedule Key Terms

  3. Example 1 Write the tax schedule notation, interval notation, and compound inequality notation that would apply to an income of $172,876.99.

  4. Tax Equation

  5. Example 2 How does the piecewise function relate to the tax computation worksheet?

  6. Example 3 Express the equation in the married taxpayers filing jointly schedule in y = mx + b form to determine the tax for an income of $46,000.

  7. 0.10x 0 < x ≤ 16,050 0.15x − 802.5 16,050 < x ≤ 65,100 0.25x − 7,312.5 65,100 < x ≤ 131,450 f(x) = Example 4 Examine the piecewise function f(x) composed of the first three equations in Example 3. Graph the function on the appropriate interval.

  8. CHECK YOUR UNDERSTANDING If you were to graph the fourth equation in the piecewise function, y = 0.28x − 11,256, where would you expect the last point in that equation to be? Explain your reasoning.

  9. EXTEND YOUR UNDERSTANDING What are the monetary implications of the fact that the slope of the last segment of the piecewise function is greater than the slope of the segment preceding it?

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