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Jim is 68 and single and retired. Here is his income. Social Security Income15,000 Chase Interest Income5,000 Municipal bond interest5,000 Qualifying dividends5,000 He has itemized

Jim is 68 and single and retired. Here is his income.

Social Security Income15,000

Chase Interest Income5,000

Municipal bond interest5,000

Qualifying dividends5,000

He has itemized deductions of $10,000. Compute his tax liability.

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