Asked on 15 May 2018

A company has taxable income of $50,000. The federal tax is 10% of that portion that is left after the provincial tax has been paid. The provincial tax is 15% of that portion that is left after the federal tax has been paid. If x denotes the federal tax and y denotes the provincial tax, write a system of equations and solve it. What's the total of the taxes paid? Round your answer to the nearest dollar.

Answered on 15 May 2018

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