Susan is single with a gross income of $120,000 and a taxable income of $98,000. In calculating

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Susan is single with a gross income of $120,000 and a taxable income of $98,000. In calculating gross income, she properly excluded $10,000 of tax-exempt interest income. Using the tax rate schedules in the chapter, calculate Susan's

a. Total tax

b. Marginal tax rate

c. Average tax rate

d. Effective tax rate

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Concepts In Federal Taxation 2016

ISBN: 9781305585133

23rd Edition

Authors: Kevin Murphy, Mark Higgins

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Question Posted: Jul 14, 2016 04:27 AM

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Susan is single with a gross income of $120,000 and a taxable income of $98,000. In calculating

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a Tax computation single taxpayer rate schedule for 2015 b The marginal tax rate is the rate of tax ...View the full answer

Concepts In Federal Taxation 2016

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