Question: Ms. E, a single individual, had $115,000 taxable income. Compute her income tax assuming that: a. Taxable income includes no capital gain. b. Taxable income

Ms. E, a single individual, had $115,000 taxable income. Compute her income tax assuming that:
a. Taxable income includes no capital gain.
b. Taxable income includes $22,000 capital gain eligible for the 15 percent preferential rate.

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