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26. L03 In 2016, Simon, age 12, has interest income of $300 and dividend income of $4,000. He has no investment expenses. His parents have

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26. L03 In 2016, Simon, age 12, has interest income of $300 and dividend income of $4,000. He has no investment expenses. His parents have taxable income of $80,200 and le ajoint tax return. Assume that no parental election is made. Determine Simon's net unearned income, allocable parental tax, and total tax liability

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