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QUESTION 1 Chuck, a single taxpayer, eams $80,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. Using
QUESTION 1 Chuck, a single taxpayer, eams $80,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. Using the U.S. tax rate schedule, how much federal tax will he owe? QUESTION 2 Chuck, a single taxpayer, eams $80,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. What is his average tax rate? (Carry your answer two decimals, ie, 20.05) QUESTION 3 Chuck, a single taxpayer, eams $80,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. What is his effective tax rate? QUESTION 4 Chuck, a single taxpayer, eams $80,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. What is his current marginal tax rate?
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