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Calculate the following: a. What is Eric's taxable income? (Refer to Exhibit 31) b. What is his total tax liability? (Use tax rate table, page
Calculate the following:
a. | What is Eric's taxable income? (Refer to Exhibit 31) |
b. | What is his total tax liability? (Use tax rate table, page 81) What is his average tax rate? |
c. | Based on his withholding, will Eric receive a refund or owe additional tax? What is the amount? |
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