Math Problem Statement
Mr. Hernandez is in the 28% income tax bracket. Last year, his taxable income was $85,500. How much did he need to pay in taxes? How much money did he earn after he paid his taxes?
Solution
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Math Problem Analysis
Mathematical Concepts
Percentage Calculation
Income Tax Calculation
Subtraction
Formulas
Taxes paid = Taxable income × Tax rate
Income after taxes = Taxable income  Taxes paid
Theorems

Suitable Grade Level
Grades 68
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