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By defining after-tax income, demonstrate the differences resulting from a $500 tax deduction versus a...

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Question

Accounting

By defining after-tax income, demonstrate the differences resulting from a $500 tax deduction versus a $500 tax credit for a single taxpayer in the 12% tax bracket with $34,000 of pre-tax income. Round your answers to two decimal places. (Use Exhibit 3.3 .)

After-tax income with tax deduction

$

After-tax income with tax credit

$

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