ACCT 401

The following information applies to the questions displayed below.]

Lacy is a single taxpayer. In 2021, her taxable income is $46,600. What is her tax liability in each of the following alternative situations? Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

a. All of her income is salary from her employer.

b. Her $46,600 of taxable income includes $5,600 of qualified dividends.

c. Her $46,600 of taxable income includes $9,600 of qualified dividends.