Answer:
$15,679.50
Explanation:
If we use the 2020 tax brackets and consider this person is a single filer, his/her taxable income would fit into the fourth tax bracket:
- marginal tax rate = 24%
- taxable income bracket = $85,525 - $163,300
- taxes owed = $14,605.50 plus 24% of the amount over $85,525
taxes owed = $14,605.50 + [($90,000 - $85,525) x 24%] = $14,605.50 + $1,074 = $15,679.50
