Susan is single with a gross income of $110,000 and a taxable income of $88,000. In calculating

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Susan is single with a gross income of $110,000 and a taxable income of $88,000. In calculating gross income, she properly excluded $10,000 of tax-exempt interest income. Using the tax rate schedules in the chapter, calculate Susan's

a. Total tax

b. Marginal tax rate

c. Average tax rate

d. Effective tax rate

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Concepts In Federal Taxation

ISBN: 9780324379556

19th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

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Question Posted: Mar 29, 2013 03:27 AM

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Susan is single with a gross income of $110,000 and a taxable income of $88,000. In calculating

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a Tax computation single taxpayer rate schedule for 2011 Taxable Income 88000 Tax on 83600 1702500 E...View the full answer

Concepts In Federal Taxation

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