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The Piquette family had the following income in 2019: Salaries: Devin $46,000 Kerry 68,000 Interest on investments: Boeing bonds $1,000 New York City bond 1,400

The Piquette family had the following income in 2019:

Salaries:

Devin

$46,000

Kerry

68,000

Interest on investments:

Boeing bonds

$1,000

New York City bond

1,400

Savings account

250

The family also sold Astra-Zeneca stock they owned for 11 months for a profit of $3,500 and they also sold Dell stock they had owned for 5 years for a profit of $4,000. The family made home mortgage payments that included interest of $12,000, and paid real estate (property) tax of $3,500 on their home. They also paid state income tax of $5,000 and donated $2,000 to well-known charities. There are two dependent children. The exemption rate is $4,000 per person. Use Personal Tax Schedules given below.

Single Individuals

Married Couples Filing Jointly

Income ($)

Rate (%)

Income ($)

Rate (%)

0-9,225

10

0-18,450

10

9,225-37,450

15

18,450-74,900

15

37,450-90,750

25

74,900-151,200

25

90,750-189,300

28

151,200-230,450

28

189,300-411,500

33

230,450-411,500

33

411,500-413,200

35

411,500-464,850

35

Over 413,200

39.6

Over 464,850

39.6

The family's taxable income is No decimal places. Write commas in your answer.

The family's tax liability is TWO DECIMAL place in your answer. Write COMMAS in your answer.

Their marginal rate is % No decimal places and NO % sign

Their average rate is % Have 2 decimal places and no % sign.

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