If the personal income tax rate is lowered from 42% to 28%, what is the differential savings for a tax payer having an annual income before tax to the tune of $34500?  Choose the correct choice from the following answers:  A) $3500  B) $5000  C) $4830  D) $7000  E) $10000
Saving = (42-28)% of 34500 = 4830.   Answer:$4830
<result>C</result>
If the personal income tax rate is lowered from 42% to 28%, what is the differential savings for a tax payer having an annual income before tax to the tune of $34500?