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Given the following information only, calculate the minimum 2020 federal income tax payable and provide the applicable marginal and average tax rates. Show all calculations

Given the following information only, calculate the minimum 2020 federal income tax payable and provide the applicable marginal and average tax

rates.

Show all calculations in Show Work area.

Division B income $98,350

Division C deductions $ 5,275

Tax credits available $ 2,622

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