Verified Answer :

$45,000 would be your net worth 

10% of 50,000 is 5,000 so subtract 5,000 from 50,000 and you get 45,000

Answer:

Our net income is $45,000.

Explanation:

Income earned in an year  = $50,000

Rate at which federal taxes are applied = 10%

Amount to deducted as federal tax ;

= \(\$50,000\times \frac{10}{100}=\$5,000\)

Net income = Yearly income - Federal tax

\(=\$50,000-\$5,000=\$45,000\)

Our net income is $45,000.

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