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AC Motors is a sole proprietorship that has taxable income of $94,200. How much additional tax will be owed if the taxable income increases by
AC Motors is a sole proprietorship that has taxable income of $94,200. How much additional tax will be owed if the taxable income increases by $14,300 based on the following tax rates? Assume this is the sole source of income for the owner. Taxable Income Tax Rate $ 0 9,525 10 % 9,526 38,700 12 38,701 82,500 22 82,501 157,500 24 Multiple Choice $3,862 $3,039 $3,432 $3,406 $3,678
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