Sally puts $8,500 into a savings account that pays out 4% interest annually. Sally is...
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Accounting
Sally puts $8,500 into a savings account that pays out 4% interest annually. Sally is a single taxpayer whose only other income this year is $120,000 in ordinary income from her salary. However, she is not considered a high income taxpayer.
Fill in the blank: The additional amount of tax Sally must pay on the interest income from the savings account is $_______.
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