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Problem 1-36 (LO 1-3) (Algo) Campbell, a single taxpayer, earns $432,000 in taxable income and $3,600 in interest from an investment in State of New
Problem 1-36 (LO 1-3) (Algo) Campbell, a single taxpayer, earns $432,000 in taxable income and $3,600 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule.) Required: a. How much federal tax will she owe? b. What is her average tax rate? c. What is her effective tax rate? d. What is her current marginal tax rate? Complete this question by entering your answers in the tabs below. Reg A Reg B Reqc Reg D How much federal tax will she owe? (Do not round intermediate calculations. Round "Federal tax" to the nearest dollar.) Federal tax Reg A Reg B Reqc ReqD What is her average tax rate? (Do not round intermediate calculations. Round total tax to the nearest dollar.) 1 Choose Numerator ? Choose Denominator ? Average Tax Rate 0 Req A Reg B Reqc Req D What is her effective tax rate? (Do not round intermediate calculations. Round total tax to the nearest dollar.) Choose Numerator Choose Denominator ? Effective Tax Rate Req A Reg B Reg c Reg D What is her current marginal tax rate? Marginal tax rate Taxable income ?: Total expense Total profit Total tax Total income
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