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Solved: In 514, use the 2012 marginal tax rates in Table 8.1 on page 501 to compute the

Chapter 8, Problem 14

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QUESTION:

In Exercises 5 – 14, use the 2012 marginal tax rates in Table 8.1 on page 501 to compute the tax owed by each person or couple.

a head of household with a taxable income of $46,000 and a $3000 tax credit

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QUESTION:

In Exercises 5 – 14, use the 2012 marginal tax rates in Table 8.1 on page 501 to compute the tax owed by each person or couple.

a head of household with a taxable income of $46,000 and a $3000 tax credit

ANSWER:

Step 1 of 3

The income tax is computed as follows:

The person has a taxable income of and a tax credit.

The head of the family owns on the income of and on the income above.

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