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Use the portion of the 2005 Marginal Tax Rate Table shown to calculate the tax...

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Accounting

Use the portion of the 2005 Marginal Tax Rate Table shown to calculate the tax owed by a single man with no dependents whose gross income, adjustments, deductions, and credits are given as follows (show work/steps): Tax Rate Single 10% Up to $7,300 15% $7,301 to $29,700 25% $29,701 to $71,950 Standard Deduction $5000 Exemptions (per person) $3200 Gross Income: $40,000 Adjustments

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