The solution:
Given:
[tex]\begin{gathered} Last\text{ year gross income}=\text{\$}93,000 \\ Monthly\text{ income tax withheld}=\text{\$}1646.92 \end{gathered}[/tex]This means that:
[tex]Last\text{ year total income tax withheld}=12\times1646.92=\text{ \$}19763.04[/tex]To find the percentage of Coby's gross income for last year, we have:
[tex]Gross\text{ income percent}=\frac{19763.04}{93000}\times100=21.25\text{\%}[/tex]Therefore, the correct answer is 21.25%
