Shara's 2016 taxable income is $39,000 before considering charitable contributions.Shara is a single individual.She makes a donation of $5,000 to the American Heart Association in December 2016.By how much did Shara's marginal tax rate decline simply because of the donation?
A) 0%
B) 7%
C) 3%
D) 5%
E) 10%
Correct Answer:
Verified
Q42: Oliver pays sales tax of $7.20 on
Q55: Elrod is an employee of Gomez Inc.During
Q56: Heidi and Anastasia are residents of the
Q56: Indicate which of the following statements concerning
Q59: Alan is a single taxpayer with a
Q61: Ordinary income is
I.the common type of income
Q64: An excise tax
I.is levied on the value
Q65: How much additional Social Security tax does
Q67: Phyllis is an electrician employed by Bogie
Q77: When property is transferred, gift and estate
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents