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Mr. and Mrs. Thompson's taxable income from their shoe sales business is quite stable for...

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Accounting

Mr. and Mrs. Thompson's taxable income from their shoe sales business is quite stable for the last 6 years. Their average federal income tax rate has ranged between 22 and 24 percent. An economic boom causes the couple to estimate that their shoe sales will generate an additional $100,000 in taxable income next year. Do you believe there will be additional income that will cause the couple to be in a different tax bracket, and why?

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