Jennifer and Paul, who file a joint return, have taxable income of $94,475 and the following tax

Question:

Jennifer and Paul, who file a joint return, have taxable income of $94,475 and the following tax liability:

Their average tax rate is:

a. 10%.

b. 12%.

c. 13%.

d. 22%.

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Fundamentals Of Taxation 2022

ISBN: 9781264209408

15th

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander

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Question Posted: Apr 16, 2023 12:33 AM

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Jennifer and Paul, who file a joint return, have taxable income of $94,475 and the following tax

Question:

$19,990 × 10% = ($81,050-$19,990) × 12% = ($94,475 $81,050) × 22% = Total tax liability $ 1.990.00 7,338.00 2.953.50 $12.281.50

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To find Jennifer and Pauls average tax rate we need to divide the...View the full answer

Fundamentals Of Taxation 2022

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