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Campbell, a single taxpayer, earns $438,000 in taxable income and $3,900 in interest from an investment in State of New York bonds. (Use the U.S.
Campbell, a single taxpayer, earns $438,000 in taxable income and $3,900 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule.) Required: 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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