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Cecil cashed in a Series EE savings bond with a redemption value of $22,500 and an original cost of $15,750. For the following independent scenarios,
Cecil cashed in a Series EE savings bond with a redemption value of $22,500 and an original cost of $15,750. For the following independent scenarios, calculate the amount of interest Cecil will include in his gross income assuming he files as a single taxpayer:
a. Cecil plans to spend $6,750 of the proceeds to pay his tuition at State University and estimates his modified adjusted gross income at $65,100.
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