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I need help $1,765 Student loan interest Katarina's traditional IRA $1,500 Total itemized deductions $14,987 Standard deduction for $11,600 2011 Personal exemption $3,700 amount Marginal
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$1,765 Student loan interest Katarina's traditional IRA $1,500 Total itemized deductions $14,987 Standard deduction for $11,600 2011 Personal exemption $3,700 amount Marginal tax bracket 25% If the Bajorshiks' income does not exceed the phase-out level of $110,000 in 2011, by how much will the child tax credit reduce their tax liability? (Assume that the child tax credit will be the same amount in 2010 as in 2011.) Their tax liability will be reduced by $2,100. Their tax liability will be reduced by $750. Their tax liability will be reduced by $3,000, O Their tax liability will be reduced by $2,000 Step by Step Solution
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