How much income must she earn to maintain the couples


Mr. E, a petroleum engineer, earns an $84,500 annual salary, while Mrs. E, a homemaker, has no earned income. Under current law, the couple pays 20 percent in state and federal income tax. Because of recent tax law changes, the couple’s future tax rate will increase to 28 percent. If Mrs. E decides to take a part-time job because of the rate increase, how much income must she earn to maintain the couple’s after-tax disposable income? (Round your intermediate calculations and final answer to the nearest whole dollar amount.)

Request for Solution File

Ask an Expert for Answer!!
Financial Management: How much income must she earn to maintain the couples
Reference No:- TGS02867661

Expected delivery within 24 Hours