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Rosie's marginal federal tax rate is 29 percent.He has a foreign investment that earns $50,000 (Canadian) of non-business income.The government of the foreign country withholds
Rosie's marginal federal tax rate is 29 percent.He has a foreign investment that earns $50,000 (Canadian) of non-business income.The government of the foreign country withholds $10,000 of this amount, with the remaining $40,000 being remitted to Rosie during 2019.By what amount will Rosie's 2019 federal Tax Payable increase as a result of this transaction?
a) $ 4,500.
b) $ 6,275.
c) $11,600.
d) $14,500.
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