If Provincial Tax Rates Are 16% on the First $40,100;

Multiple Choice

If provincial tax rates are 16% on the first $40,100; 20% on the next $40,100; and 24% on any income after that. If a resident had income of $95,000 then determine the total tax paid.

A) $16,228
B) $17,988
C) $18,288
D) $19,398
E) $20,328