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Campbell, a single taxpayer, earns $402,000 in taxable income and $2,100 in interest from an...

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Question

Accounting

Campbell, a single taxpayer, earns $402,000 in taxable income and $2,100 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule.)

Required:

  1. How much federal tax will she owe?
  2. What is her average tax rate?
  3. What is her effective tax rate?
  4. What is her current marginal tax rate?

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