Assume that Daniel's taxable income after taking the standard deduction is $33,914. Which equations will Daniel need to use to calculate the amount of income tax on his taxable income, where x is the
amount of taxable income that's taxed at the corresponding marginal tax rate and y is the amount of
taxes owed?
I. y = 0.10x
II. y = 0.12x
III. y = 0.22x
IV. y = 0.24x
V. y = 0.32x
VI. y = 0.35x
VII. y = 0.37x
Select the correct answer.
A)land Il
B) I, II, and III
C)IV, V, VI, and VII
D) VII only