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The effective income tax rate is defined as the percentage of taxes paid in relation to a tax payer's gross income. Calculate the effective tax
The effective income tax rate is defined as the percentage of taxes paid in relation to a tax payer's gross income. Calculate the effective tax rate for a
person with the following profile. Please include your calculation in your response.
Gross income of $
Number of exemptions: assume $exemption
Allowed itemized deductions:
Donations: $
Mortgage interest: $
State and local taxes: $
Standardized deduction: $
Total tax credits: $
Note: Please round your answer to two decimal places.
Tax brackets:
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