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Please Show your work. Campbell, a single taxpayer, earns $406,500 in taxable income and $2,520 in interest from an investment in State of New York
Please Show your work.
Campbell, a single taxpayer, earns $406,500 in taxable income and $2,520 in interest from an investment in State of New York bonds. (Use the U.S.:tax rate schedule.j. Required: a. If Campbell earns an additional $16,300 of taxable income, what is her marginal tax rate on this income? b. What is her marginal rate if, instead, she had $16,300 of additional deductions? Note: For all requirements, do not round intermediate calculations. Round percentage answers to whole percentStep by Step Solution
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