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Maria made $100,000 from long-term investments and Steve made $100,000 from wages. Both are filing single and took the standard deduction and personal exemption. a.Calculate

Maria made $100,000 from long-term investments and Steve made $100,000 from wages. Both are filing single and took the standard deduction and personal exemption.

a.Calculate the FICA taxes owed by each person

b.Calculate the federal income taxes owed by each person

c.Calculate the overall tax rate for each person.

This is for Math 140. Statistics and Probability. Sacramento City College. Course #18374.

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