Question: Lara, a single individual, has $ 1 4 2 , 0 0 0 taxable income. Assume the taxable year is 2 0 2 3 .

Lara, a single individual, has $142,000 taxable income. Assume the taxable year is 2023. Use Individual Tax Rate Schedules.
Required:
Compute income tax assuming that:
Taxable income includes no capital gain.
Taxable income includes $26,700 capital gain eligible for the 15 percent preferential rate.

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