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Hitchcock and Lucille are married and retired, and they file jointly. They have the following income for the year: Dividend income $15,000 Taxable interest 20,000

Hitchcock and Lucille are married and retired, and they file jointly. They have the following income for the year: Dividend income $15,000 Taxable interest 20,000 Tax-exempt bond interest 7,500 Social security benefits 11,500 Compute the taxable portion of Hitchcock and Lucille's social security benefits

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