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Chuck, a single taxpayer, earns $45,000 in taxable income and $12,700 in interest from an investment in City of Heflin bonds. (Use the U.S tax

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Chuck, a single taxpayer, earns $45,000 in taxable income and $12,700 in interest from an investment in City of Heflin bonds. (Use the U.S tax rate schedule.) Required: a. How much federal tax will he owe? b. What is his average tax rate? c. What is his effective tax rate? d. What is his current marginal tax rate

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