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Susan is single with a gross income of $120,000 and a taxable income of $98,000. In...

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Accounting

Susan is single with a gross income of $120,000 and a taxableincome of $98,000. In calculating gross income, she properlyexcluded $10,000 of tax-exempt interest income.

What is her total tax?

What is her marginal tax rate?

what is her average tax rate?

what is her effective tax rate?

Answer & Explanation Solved by verified expert
3.9 Ratings (609 Votes)
SolutionInthe absence of tax period question is answer using 2017 tax rateschedule1 What is her total taxTaxable Income98000Tax on919001871375Excess6100Taxed at Marginal Rate 28170800Total Tax20421752 What is her marginal tax rateThe    See Answer
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