Mr. Hoosier has gathered all these data about his finances.Salary                                              $159,000Taxable interest                                  $5,600Municipal Bond interest                  $15,000Total Itemized deductions                 $9,500The personal exemption is $4700. The standardized deduction for a single filer is 5000.   Single FilerIf Taxable Income is                                                   Then tax is:0-8000                                                                         10% of the amount over 08000- 35,000                                                               800 + 15% of the amount over 800035000- 55,000                                                             4850 + 20% of the amount over 3500055000- 150,000                                                           8850 + 30% of the amount over 55000150000 – 200000                                                        37350 + 35% of the amount over 150000200000 and over                                                         54850 + 40% of the amount over 200000

Step 3 (3 pts). Calculate tax amount based on exemption and taxable income (see tables below). Tax amount should be stored as a double and rounded to the nearest whole number using round(). Submit for grading to confirm eight tests pass.Ex: If the input is:20000 23 500 1 400Ex: The additional output is:AGI: $20523Deduction: $12000Taxable income: $8523Federal tax: $852Income Tax for Single Filers$0 - $10000 10% of the income$10001 - $40000 $1000 + 12% of the amount over $10000$40001 - $85000 $4600 + 22% of the amount over $40000over $85000 $14500 + 24% of the amount over $85000Income Tax for Married Filers$0 - $20000 10% of the income$20001 - $80000 $2000 + 12% of the amount over $20000over $80000 $9200 + 22% of the amount over $80000

Using the income tax table below, what is the deduction with taxable income of $1016.50 and claim code 8?

tax exempt income?

Ms. Koyal earns INR 80,000 each month. However when he gets his paycheck it is always less than INR 80,000, because taxes have been taken out of his paycheck. What type of tax is this?AIncomeBPropertyCSalesDRoad

The amount an employee earns before any deductions such as EI, CPP, and income tax withholdings is theMultiple ChoiceTake home payGross payTaxable incomeDeductible payNet pay