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11. Consider gross earnings of $96,000. The standard deduction is $12,000 and itemized deduction is $6,000. Social security tax rate is 6.2%; Medicare tax rate

11. Consider gross earnings of $96,000.

The standard deduction is $12,000 and itemized deduction is $6,000.

Social security tax rate is 6.2%; Medicare tax rate is 1.45%.

How much is the taxable income (for federal income tax)?

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