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Ms. Ellis, a single individual, has $124,000 taxable income. Assume the taxable year is 2021. Compute her income tax assuming that: Use Individual Tax Rate
Ms. Ellis, a single individual, has $124,000 taxable income. Assume the taxable year is 2021. Compute her income tax assuming that: Use Individual Tax Rate Schedules. Required: Taxable income includes no capital gain. Taxable income includes $30,400 capital gain eligible for the 15 percent preferential rate. (For all requirements, round your intermediate calculations and final answers to the nearest whole dollar amount.)
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