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Chuck, a single taxpayer, earns $ 7 7 , 0 0 0 in taxable income and $ 1 1 , 1 0 0 in interest
Chuck, a single taxpayer, earns $ in taxable income and $ in interest from an investment in City of Heflin bonds. Use the US 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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