Some question: If the personal income tax rate is lowered from 45% to 30%, what is the differential savings for a tax payer having an annual income before tax to the tune of $48000?\nOptions:\n(A) $3500\n(B) $5000\n(C) $3150\n(D) $7200\n(E) $10000
Some stream of consciousness:
User
Saving = (45-30)% of 48000 = 7200. The answer: (D).
Assistant