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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 $14,500 of dividend income. - She received $5,000 of interest income on Home Depot bonds. - She received $24,500 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $6,100. - She received $14,000 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $7,900. Open spreadsheet a. What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations. $ b. What is her marginal tax rate? Round your answer to 1 decimal place. % c. What is her average tax rate? Round your answer to 2 decimal places. % Table 3.52015 Individual Tax Rates Single Individuals Married Couples Filing Joint Returns
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