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Belmont contributes $30,000 to the Salvation Army. Belmont's marginal tax rate is 24% while his average tax rate is 20%. After considering his tax savings,
Belmont contributes $30,000 to the Salvation Army. Belmont's marginal tax rate is 24% while his average tax rate is 20%. After considering his tax savings, Belmont's contribution costs
A) $7,200.
B) $22,800.
C) $24,250.
D) $30,000.
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