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Answer the following questions. Mr . Hoosier has gathered all these data about his finances. Salary $ 1 5 9 , 0 0 0 Taxable
Answer the following questions.
Mr Hoosier has gathered all these data about his finances.
Salary $
Taxable interest $
Municipal Bond interest $
Total Itemized deductions $
The personal exemption is $ The standardized deduction for a single filer is
Single Filer
If Taxable Income is Then tax is:
of the amount over
of the amount over
of the amount over
of the amount over
of the amount over
and over of the amount over
Married filing jointly:
If Taxable Income is Then tax is:
of the amount over
of the amount over
of the amount over
of the amount over
of the amount over
and over of the amount over
Please answer each question. Use numbers only, do not add symbol.
What is his marginal tax rate?
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