The equation below forecasts personal income tax (PIT) using two
explanatory variables, personal income (PI) in dollars and the
personal income tax rate (R) in percentage points (e.g. if the tax
rate is 4% then R=4).
If personal income is currently $2,000 and is forecast to grow
by 3.2% and the tax rate is 4 percent and not changing what is the
correct forecast for personal income tax? 300+1000+200=1500
The Equation Below Forecasts Personal Income Tax Pit Using Two Explanatory Variables Personal Income Pi In Dollars 1 (1.8 KiB) Viewed 43 times
A) $1,532
B) $1,500
C) $2,345
D) $3,450
E) All of the above.
F) None of the above.
PIT 300 + 0.5PI + 50R
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