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Nick and Jessica are married taxpayers that file married filing separatelyJessica earns $250,000 of taxable...

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Accounting

Nick and Jessica are married taxpayers that file married filing separatelyJessica earns $250,000 of taxable income per year. Nick earns $ 130,000 of taxable income per yearUsing the appropriate U.S. tax rate schedule for year 2021, how much tax does each of them pay? What are their marginal and average tax rates? How much tax would they save, if any, if they filed jointly?

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