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Assume that Congress amends the tax law to provide for a maximum 20% rate on royalty income. Calculate the annual tax savings from this new

Assume that Congress amends the tax law to provide for a maximum 20% rate on royalty income. Calculate the annual tax savings from this new preferential rate to the following tax payer. Ms. A who is a 35% marginal tax bracket and receives $8,000 royalty income each year

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