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Lara, a single individual, has $205,000 taxable income. Assume the taxable year is 2022 . Use Individual Tax Rate Schedules. Required: Compute income tax assuming
Lara, a single individual, has $205,000 taxable income. Assume the taxable year is 2022 . Use Individual Tax Rate Schedules. Required: Compute income tax assuming that: a. Taxable income includes no capital gain. b. Taxable income includes $23,100 capital gain eligible for the 15 percent preferential rate. Note: For all requirements, round your intermediate calculations and final answers to the nearest whole dollar amount. Individual Tax Rate Schedules
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