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Daniella and Jose are married and file their tax return jointly. They have $300,000 in all-inclusive economic income. This includes $20.000 in tax-exempt income that

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Daniella and Jose are married and file their tax return jointly. They have $300,000 in all-inclusive economic income. This includes $20.000 in tax-exempt income that may be excluded, 530,000 in deductions for adjusted gross income, and $16,000 in potentialitemized deductions and $2,000 credit and made $10,000 in prepayments. Assume Daniella and Jose would like to maximize their deductions and credits. Daniela & Jose's gross income is their adjusted gross income is their taxable income Daniella & Jose's tax liability before credits and prepayments for the current year is and their taxes owed is

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