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After college you start a 50/50 partnership business with a classmate that during its first year of operation generates business income of $250,000, all of
After college you start a 50/50 partnership business with a classmate that during its first year of operation generates business income of $250,000, all of which is distributed to the partners. If your distribution from the partnership is your only taxable income, what are your tax liability, after-tax income, marginal tax rate, and average tax rate? $24,290;$100,710;19%$26,250;$98,750;21%;21%$24,080;$100,920;24%;19%$52,500;$197,500;21%;21%
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