Marc, a single taxpayer, earns $63,000 in taxable income and $5,300 in interest from an investment in

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Marc, a single taxpayer, earns $63,000 in taxable income and $5,300 in interest from an investment in city of Birmingham Bonds. Using the U.S. tax rate schedule for year 2020, what is his effective tax rate? (Use Tax rate schedule.)

20.60 percent
14.13 percent
15.32 percent
10.77 percent
None of the choices are correct

Related Book For answer-question

Principles of Taxation for Business and Investment Planning 2016 Edition

ISBN: 9781259549250

19th edition

Authors: Sally Jones, Shelley Rhoades Catanach

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Posted Date: Sep 30, 2020 03:46 PM

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Marc, a single taxpayer, earns $63,000 in taxable income and $5,300 in interest from an investment in

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Taxable Income 63000 Total Income 63000 5300 68300 As per ... View the full answer

Principles of Taxation for Business and Investment Planning 2016 Edition

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