Questions: Elijah was recently hired for a job with an annual income of 58,000. Using the federal income rate of 15%, what amount should Elijah expect to pay in federal income tax?

Elijah was recently hired for a job with an annual income of 58,000. Using the federal income rate of 15%, what amount should Elijah expect to pay in federal income tax?

Transcript text: Elijah was recently hired for a job with an annual income of $\$ 58,000$. Using the federal income rate of $15 \%$, what amount should Elijah expect to pay in federal income tax?

Solution

Solution Steps

To find the amount Elijah should expect to pay in federal income tax, we need to calculate 15% of his annual income. This involves multiplying his income by the tax rate (expressed as a decimal).

Step 1: Calculate the Federal Income Tax

To determine the federal income tax Elijah should expect to pay, we use the formula:

\[ \text{Federal Income Tax} = \text{Annual Income} \times \text{Tax Rate} \]

Substituting the given values:

\[ \text{Federal Income Tax} = 58000 \times 0.15 \]

Step 2: Perform the Calculation

Calculating the above expression:

\[ \text{Federal Income Tax} = 8700 \]

Final Answer

Elijah should expect to pay in federal income tax:

\[ \boxed{8700} \]

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