Determining a Refund or Taxes Owed. Based on the following data, would Ann and Carl Wilton receive

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Determining a Refund or Taxes Owed. Based on the following data, would Ann and Carl Wilton receive a refund or owe additional taxes?

Adjusted gross income ..................................$46,686

Itemized deductions ......................................$11,420

Child care tax credit .............................................$80

Federal income tax withheld ...........................$4,784

Amount for personal exemptions ....................$7,300

Tax rate on taxable income .................................0.15

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Personal Finance

ISBN: 978-1259720680

12th edition

Authors: Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes, Melissa Hart

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