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An income tax is 20% in the lowest bracket of net income and [#permalink]
20 Mar 2008, 07:06
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An income tax is 20% in the lowest bracket of net income and 25% on the net income in excess of that bracket. If the tax on $1800 of net income is $385. What is the upper limit of the lowest bracket? $1050 $1200 $1300 $1380 $1420 Please explain your answer. thanks