LO.1, 3, 7 Paige, age 17, is claimed as a dependent on her parents 2012 return, on

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LO.1, 3, 7 Paige, age 17, is claimed as a dependent on her parents’ 2012 return, on which they report taxable income of $120,000 (no qualified dividends or capital gains).

Paige earned $3,900 pet sitting and $4,000 in interest on a savings account. What are Paige’s taxable income and tax liability for 2012?

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