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Jill and Monica are married and have two qualifying dependents. Jill and Monica are both...

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Accounting

Jill and Monica are married and have two qualifying dependents. Jill and Monica are both 42 years old and have gross income of $138,500. Their deductions for AGI equal $18,600 and they always use the standard deduction. Using the married filing jointly tax rate schedule, compute their tax on taxable income for2018.

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