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Maria is a single successful executive with the following tax scenario for 2018: Her salary was $77,000; she received $500 in interest from her various

Maria is a single successful executive with the following tax scenario for 2018: Her salary was $77,000; she received $500 in interest from her various taxable bond investments; she received $2,000 in the form of dividend income from her various corporate stock investments, her short-term capital gain was $1,200 and her long-term capital gain was $9,000 (mainly from the sale of her United Airlines stock that she held for a decade). She also paid $400 on interest charges on her credit card (this was mainly because she did not realize that she had a pending charge on a credit card that she overlooked.) Her other total exemptions and itemized deductions is 12,000; these amounts will be deducted from her gross income to determine her taxable income. If she is files as a single individual, what is Maria's tax liability for the year, i.e. how much in taxes she will pay for the year? Use the individual tax rate provided below. Single Individuals

If Your TaxableIncome Is You Pay This Amount on theBase of the Bracket Plus This Percentage on the Excess over the Base Average Tax Rate atTop of Bracket
Up to $9,225 $0 10.0% 10.0%
$9,225-$37,450 $922.50 15.0 13.8
$37,450-$90,750 $5,156.25 25.0 20.4
$90,750-$189,750 $18,481.25 28.0 24.3
$189,750-$411,500 $46,075.25 33.0 29.0
$411,500-$413,200 $119,401.25 35.0 29.0
Over $413,200 $119,996.25 39.6 39.6

$14,318.75

$15,218.75

$14,193.75

$15,093.75

None of the above

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