Eileen,a single individual,had $125,000 taxable income.Compute her income tax assuming that:
a.Taxable income includes no capital gains.
b.Taxable income includes $14,000 capital gain eligible for the 15% preferential rate.

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The Answer of Eileen,a single individual,had $125,000 taxable income.Compute her income tax assuming that:
a.Taxable income includes no capital gains.
b.Taxable income includes $14,000 capital gain eligible for the 15% preferential rate.

Eileen,a Single Individual,had $125,000 Taxable Income