Basic Mathematics for College Students

Refer to the 2008 federal income tax table below.

63. FILING A SINGLE RETURN Herb is single and
    has an adjusted income of $79,250. Compute his
    federal income tax.


64. FILING A JOINT RETURN Raul and his wife have
    a combined adjusted income of $57,100. Compute
    their federal income tax if they file jointly.


65. TAX-SAVING STRATEGY Angelina is single and
    has an adjusted income of $53,000. If she gets married,
    she will gain other deductions that will reduce her
    income by $2,000, and she can file a joint return.
    a. Compute her federal income tax if she remains
    single.
    b. Compute her federal income tax if she gets
    married.
    c. How much will she save in federal income tax by
    getting married?


66. THE MARRIAGE PENALTY A single man with
    an adjusted income of $80,000 is dating a single
    woman with an adjusted income of $75,000.
    a. Find the amount of federal income tax each
    person would pay on their adjusted income.

b. Add the results from part a.

c. If they get married and file a joint return, how

much federal income tax will they have to pay on

their combined adjusted incomes?

TRY IT YOURSELF d. Would they have saved on their federal income

taxes if they did not get married and paid as two

single persons? Find the amount of the “marriage

penalty.”

Refer to the following bar graph.

67. In which year was the largest percent of flights
    cancelled? Estimate the percent.


68. In which year was the smallest percent of flights
    cancelled? Estimate the percent.


69. Did the percent of cancelled flights increase
    or decrease between 2006 and 2007? By how
    much?


70. Did the percent of cancelled flights increase
    or decrease between 2007 and 2008? By how
    much?

2008

2007

2006

2005

Year^2004

2003

2002

2001

2000

0 0.75% 1.5% 2.25%

Source: Bureau of Transportation Statistics

3% 3.75%

Percent of Flights Canceled

(8 major U.S. carriers)

606 Chapter 7 Graphs and Statistics

Revised 2008 Tax Rate Schedules

If TAXABLE INCOME The TAX is

THEN

Plus Of the

Is Over But Not Over This Amount This % Amount Over

SCHEDULE X —

Single $0 $8,025 $0.00 10% $0.00

$8,025 $32,550 $802.50 15% $8,025

$32,550 $78,850 $4,481.25 25% $32,550

$78,850 $164,550 $16,056.25 28% $78,850

$164,550 $357,700 $40,052.25 33% $164,550

$357,700 — $103,791.75 35% $357,700

SCHEDULE Y-1 —

Married Filing $0 $16,050 $0.00 10% $0.00

Jointly or $16,050 $65,100 $1,605.00 15% $16,050

Qualifying $65,100 $131,450 $8,962.50 25% $65,100

Widow(er $131,450 $200,300 $25,550.00 28% $131,450

$200,300 $357,700 $44,828.00 33% $200,300

$357,700 — $96,770.00 35% $357,700