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Latesha, a single taxpayer, had the following income and deductions for the tax year 2 0 2 4 : INCOME:Salary$ 1 0 0 , 0
Latesha, a single taxpayer, had the following income and deductions for the tax year : INCOME:Salary$Business income Interest income from bonds Taxexempt bond interest TOTAL INCOME$ DEDUCTIONS:Business expenses$ Itemized deductions TOTAL DEDUCTIONS$ aCompute Lateshas taxable income and federal tax liability for round to dollars and ignore the qualified business income deduction for this problembCompute Lateshas marginal, average and effective tax rates.cFor tax planning purposes, which of the two rates in b is the most important?
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