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Penelope is a single female with wages of $38,000. She earned $75 in savings interest. During the year, she contributed $1000 to an IRA. She

Penelope is a single female with wages of $38,000. She earned $75 in savings interest. During the year, she contributed $1000 to an IRA. She had itemized deductions of $5000. What is her taxable income? $28, 275 $27, 325 $31, 125 $34, 075

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