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Required information [The following information applies to the questions displayed below) Marc and Michelle are married and earned salaries this year of $65,200 and $12,450,

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Required information [The following information applies to the questions displayed below) Marc and Michelle are married and earned salaries this year of $65,200 and $12,450, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $650 from corporate bonds. Marc contributed $2,650 to a traditional individual retirement account and Marc paid alimony to a prior spouse in the amount of $1,650 (under a divorce decree effective June 1, 2006) Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $3,000 child tax credit for Matthew Marc and Michelle paid $6,300 of expenditures that qualify as itemized deductions (no charitable contributions) and they had a total of $2,605 in federal income taxes withheld from their paychecks during the year (Use the tax rote schedules) a. What is Marc and Michelle's gross income? Description Amount Gross income

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