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Mr. Rivera and Mrs. Lopez are married, and they have 50 and 66 years respectively years old. Their income consisted of the following sources

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Mr. Rivera and Mrs. Lopez are married, and they have 50 and 66 years respectively years old. Their income consisted of the following sources They have Salaries: Mr. Rivera $45,000 and Mr. Lopez $ 35,000 Interest received in Federal Bonds $1,000 Interest received in Private Banks Accounts $2,000 Jury Duty Compensation $3,000 Inheritance (Herencia recibida por Mrs. Lpez) $10,000 Interest in Milwaukee city bonds 1,500 Withholding Tax payment $2,000 and 3,000 Please present computation items. Make the follows calculations: Gross Income: Adjusted Gross Income: Standard Deduction Additional Standard Deduction: The taxable income is: The Total tax liability: (Please, use the table at the end of the problem) The Payment or Refund:

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