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Explain and calculate the differences resulting from a $ 5 0 0 tax credit versus a $ 5 0 0 tax deduction for a single
Explain and calculate the differences resulting from a $ tax credit versus a $ tax deduction for a single taxpayer with $ of pretax income. The standard deduction in was $ for single. Note that personal exemptions were suspended for Use Exhibit to determine the corresponding tax rate. Round the answers to the nearest cent.
Aftertax Income Tax Deduction
Aftertax Income Tax Credit Tax Rate Schedules
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