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For this question, assume that John and Sue Smith (discussed previously) had determined their taxable income for the year to be $225,000. Using the tax
For this question, assume that John and Sue Smith (discussed previously) had determined their taxable income for the year to be $225,000. Using the tax tables in chapter 3 (these are calendar year 2015 tax tables used for taxes to be paid by April 15, 2016), what is their federal tax liability?
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$50,051.50
$43,387.50
$39,844.00
$51,209.00
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