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Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal
Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $58,000. Tax amount b. A single person with taxable income of $36,200. Answer is complete but not entirely correct. Tax amount 4,344.00 c. Married taxpayers filing jointly with taxable income of $72,600. Tax amount Re On December 30, you make a $3,300 charitable donation. a. If you are in the 35 percent tax bracket, how much will you save in taxes for the current year? (Assume your other itemized deductions exceed the standard deduction amount.) Tax savings b. If you deposit that tax savings in a savings account for the next seven years at 9 percent, what will be the future value of that account? Use Exhibit 1-A. (Round FV factor to 3 decimal places. Round your answers to 2 decimal places.) 5 Future value If a person in a 32 percent tax bracket makes a deposit of $4,600 to a tax-deferred retirement account, what amount would be saved on current taxes? Tax savings
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