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The taxpayer, who is a qualifying child of her parents, is 16 years old at the end of the tax year. For the tax year,
The taxpayer, who is a qualifying child of her parents, is 16 years old at the end of the tax year. For the tax year, Taxpayer's gross income includes only $6,000 of interest on corporate bonds. Determine Taxpayer's total income tax liability for the tax year assuming her parents' marginal income tax rate is 24 percent.
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