A sole proprietorship earned taxable income of $179,000 duri…
A sole proprietorship earned taxable income of $179,000 during 2024. The proprietor earned no other income. According to the 2024 tax table for individuals shown below, what was the proprietor’s income tax expense in 2024? Ignore the standard deduction, self-employment taxes, etc. (Enter your answer to the nearest penny. Do not enter the dollar symbol or any commas. For example, if your answer is $1,234.56789, enter 1234.57. Do not worry if Canvas adds commas or truncates trailing zeroes.) From To Rate $ 0 $ 11,600 10% $ 11,600 $ 47,150 12% $ 47,150 $ 100,525 22% $ 100,525 $ 191,950 24% $ 191,950 $ 243,725 32% $ 243,725 $ 609,350 35% $ 609,350 $ infinity 37%