Multiple Choice
Given the following tax table, how much tax should you pay on a taxable income of \$40,000?\(\begin{tabular}{|c|c|}\[\hlineTaxable\) Income & Tax Rate \\\(\hlineUp\) to \$10,000 & 10\% \\\$10,001 - \$30,000 & 15\% \\\$30,001 - \$50,000 & 20\% \\(\Above\) \$50,000 & 25\% \\\(\hline\]\end{tabular}\)
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