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Campbell, a single taxpayer, earns $400,000 in taxable income and $2,000 in interest from an investment in State of New York bonds. Using the U.S.
Campbell, a single taxpayer, earns $400,000 in taxable income and $2,000 in interest from an investment in State of New York bonds. Using the U.S. tax rate schedule (see Appendix C), how much federal tax will she owe? What is her average tax rate? What is her effective tax rate? What is her current marginal tax rate?
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