You are offered a choice between paying a flat tax (one rate on all income) of 20% on $44,000 of income and paying a graduated tax of the following schedule on the same income. schedule: 10% on the first $25,000; 30% on your income over $25,000. which is better for you?

Graduated tax schedule.

Step-by-step explanation:

We have been given that you are offered a choice between paying a flat tax (one rate on all income) of 20% on $44,000 of income.

Let us find the amount of interest paid by finding 20% of $44,000.

Therefore, the amount of interest paid at flat tax rate is $8,800.

Now we will find the amount paid under graduated tax schedule.

Firstly, we will find the 10% of $25,000 and then we will figure out 30% of $19,000 ($44,000-25,000).

The total amount of tax paid under graduated tax:

Since amount of interest paid under graduated tax is $8,200, which is less than $8,800, therefore, graduated tax schedule is better for you.

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step-by-step explanation:

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step-by-step explanation: