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Candace is claimed as a dependent on her parent's tax return. Her parents' ordinary income marginal tax rate is 34%. In 2015, Candace received $5,000
Candace is claimed as a dependent on her parent's tax return. Her parents' ordinary income marginal tax rate is 34%. In 2015, Candace received $5,000 of interest income from corporate bonds she obtained several years ago. This is her only source of income. She is 15 years old at year-end. What is her gross tax liability?
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