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LateshaLatesha,a singletaxpayer, had the following income and deductions for the tax year 20152015: LOADING... (Click the icon to view the income anddeductions.) LOADING... (Click the
LateshaLatesha,a singletaxpayer, had the following income and deductions for the tax year 20152015:
LOADING... (Click the icon to view the income anddeductions.) LOADING... (Click the icon to view the 20152015 tax rate schedule for the Single filingstatus.) | LOADING...(Click the icon to view the standard deduction and personal and dependency exemptionamounts.) |
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a. | Compute Latesha'sLatesha's taxable income and federal tax liability for 20152015. |
b. | Compute Latesha'sLatesha's marginal, average, and effective tax rates. |
c. | For tax planningpurposes, which of the three rates in Part b is the mostimportant? |
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