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you have to be very detailed and write clear! ENGINEERING ECONOMY MFE 4720 HOMEWORK #11 NAME 1) An unmarried engineer earns a gross income of
you have to be very detailed and write clear!
ENGINEERING ECONOMY MFE 4720 HOMEWORK #11 NAME 1) An unmarried engineer earns a gross income of $120,000 for various projects executed during the year. one $3,000 exemption and estimated itemi zed deduction of $15,000. deductions (standard). Use the 201x tax tables to compute the Engineer's federal income tax liability under the following mutually exclusive conditions: The engineer claims If single people are automatically allowed $4, 000 of i) If the engineer chooses to claims the standard deduction. ii) If the engineer chooses to itemi ze deductions. Tax Tables (201x) (Approx.) Up to $22, 750 of taxable income > $22,750 and less than or equal to $50,000 Tax rate = 28% > $50,000 and less than or equal to $115, 000 Tax rate = 318 >$115,000 and less than or equal to $200,000 Tax rate- 398 Tax rate 15% Step by Step Solution
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