McGraw-Hill's Taxation of Individuals 3rd Edition by Brian Spilker,Benjamin Ayers,John Robinson,Edmund Outslay ,Ronald Worsham,John Barrick,Connie Weaver

Exercise 57

In reviewing the tax rate schedule for a single taxpayer, Chuck notes that the tax on $75,000 is $4,750 plus 25 percent of the taxable income over $34,500.What does the $4,750 represent