Jorge and Anita, married taxpayers, earn $97,500 in taxable income and $52,500 in interest from an investment
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Jorge and Anita, married taxpayers, earn $97,500 in taxable income and $52,500 in interest from an investment in City of Heflin bonds. Using the 2015 U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate? (Do not round intermediate calculations. Round your answers to 2 decimal places.)
Related Book For
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
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