If the personal income tax rate is lowered from 42% to 32%, what is the differential savings for a tax payer having an annual income before tax to the tune of $42400?	Pick.
A) $3500
B) $5000
C) $4240
D) $7000
E) $10000
Saving = (42-32)% of 42400 = 4240.   Answer:$4240
<result>C</result>
If the personal income tax rate is lowered from 42% to 32%, what is the differential savings for a tax payer having an annual income before tax to the tune of $42400?