Consider the 2014 Individual Federal Income Tax brackets:
(Source: www.forbes.com)
Write a response that completes the following tasks and meets the list of requirements that follow to build your response for this Critical Thinking Assignment:
1. Construct a piecewise function modeling the monthly pre-tax/fees bill.
2. Check your function with the following values:
• For taxable income of $165,000, the tax liability is $39,375.75
• For taxable income of $375,000, the tax liability is $107,608.25
• Does your function agree with these values? If not, make necessary adjustments.
3. Construct a graph of this function. What are the implied domain and range?
4. What is your tax liability if your taxable income is $25,000? $42,500? $24,350,000?
Requirements:
• Your paper should be 2-3 pages in length and cite and integrate at least one credible outside source.
• Include a title page, an introduction, a body, a conclusion, and a Reference list.
• The introduction should summarize the problem and state what approach and method will be applied to solve it.
• The body of your paper should answer the questions posed in the problem, explain how you approached and answered the question or solved the problem, and for each question, show all steps involved.
• The conclusion should summarize your findings and what you have determined from the data and your analysis, with a broader or personal perspective in mind when applicable.
• As with all written assignments, provide in-text citations and a reference page.
• Include any tables of data or calculations, calculated values, and/or graphs associated with this problem in the body of your assignment.
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