Nancy lives in California where her state income tax rate is 9.3% and her federal tax rate

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Nancy lives in California where her state income tax rate is 9.3% and her federal tax rate is 22%. She contributes 25% of her after-tax income for personal consumption. She earns $130,000 annually. What is her Family's Share of Earnings?

A. $22,327.50

B. $40,690.00

C. $63,017.50

D. $66,982.50

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Dec 10, 2023 01:18 AM

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Nancy lives in California where her state income tax rate is 9.3% and her federal tax rate

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Income Tax Fundamentals 2013

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