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1) Joe is in the 22% marginal bracket. He is eligible for a $1,000 tax deduction. How much will he save in taxes this year

1) Joe is in the 22% marginal bracket. He is eligible for a $1,000 tax deduction. How much will he save in taxes this year if he takes that deduction?

2) Joe is in the 22% marginal bracket. He is eligible for a $1,000 tax credit. How much will he save in taxes this year if he takes that credit?

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