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Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information:

Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information: She received $132,000 in salary. She received $16,000 of dividend income. She received $5,800 of interest income on Home Depot bonds. She received $24,000 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $5,000. She received $14,500 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $5,800. Mary receives one exemption ($4,000), and she has allowable itemized deductions of $7,500. These amounts will be deducted from her gross income to determine her taxable income.

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What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations.

$fill in the blank 2

What is her marginal tax rate? Round your answer to 1 decimal place.

fill in the blank 3 %

What is her average tax rate? Round your answer to 2 decimal places.

fill in the blank 4 %

Table 3.52015 Individual Tax Rates Single Individuals Married Couples Filing Joint Returns

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