The Lupos had x dollars in medical expenses. Medical insurance covered 80% of these expenses, so they
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The Lupos had x dollars in medical expenses. Medical insurance covered 80% of these expenses, so they had to pay 20% of the medical bills. For taxpayers in the Lupos’ age bracket, the IRS allows medical and dental expense deductions for the amount that exceeds 10% of a taxpayer’s adjusted gross income. Their adjusted gross income was y dollars. Express the amount they can claim as a medical deduction algebraically.
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Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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