During 2020, Jasmine (age 12) received interest $5,000 from a corporate bond. Jasmine lives with her parents and she is their dependent. Her parents marginal tax rate is 24%. What is Jasmines gross tax liability?

$110

$390

$672

$782

None of the choices are correct.

14. Asteria earned a $150,000 salary as an employee in 2020. How much should her employer have withheld from her paycheck for FICA taxes (Social security tax and medicare tax)?

$10,712

$11,475

$10,534

$13,786

None of the choices are correct.