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Maria and Jin are married with an 8-year-old child, who lives with them, and they financially support. In 2021, Maria and Jin have realized the
Maria and Jin are married with an 8-year-old child, who lives with them, and they financially support. In 2021, Maria and Jin have realized the following items of income: Maria's salary Jin's salary Municipal bond interest income $45,000 $130,000 $1,200 In addition, Maria and Jin incurred $18,750 of itemized deductions in 2021. Their employers withheld $23,000 in federal income taxes from their paychecks (in aggregate). Finally, Maria and Jin's 8-year-old child qualifies for the $3,000 child tax credit. Compute Jane and Ed's tax due or (refund) for 2021. Show all your work to receive credit. What is Jane and Ed's 2021 marginal tax rate
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