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In 2013 Bill earned $55,000 gross income and rented an apt for $1,000 per month. Given this is all the information you have, 25% tax
In 2013 Bill earned $55,000 gross income and rented an apt for $1,000 per month. Given this is all the information you have, 25% tax rate, no other deductions and a standard deduction of $5,000. What are his total taxes due, his marginal rate, his average rate, and how much was his monthly take home pay?
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