Question
Jennifer and Paul, who file a joint return, have taxable income of $84,647 and the following tax liability: $19,050 x 10% = - ($77,400
Jennifer and Paul, who file a joint return, have taxable income of $84,647 and the following tax liability: $19,050 x 10% = - ($77,400 $19,050) x 12% = ($84,647 - $77,400) x 22% = Total tax liability $ 1,905.00 7,002.00 1,594.34 $10,501.34 Their average tax rate is:
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Advanced Accounting
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III
2nd edition
1934319309, 978-1934319307
