Solve the problem. Refer to the table if necessary. 2013 Marginal Tax Rates, Standard Deductlons, and Exemptlons**
" Each higher marginal rate begins where the prior one leaves off. For example, for a single person, the marginal rate affects income starting at , which is where the rate leaves off, and continuing up to .
" This table ignores the effects of (i) exemption and deduction phase-outs that apply to high-income taxpayers and (ii) the alternative minimum tax (AMT) that affects many middle-and high-income taxpayers.
-Caitlin is single and earned wages of $32,988. She received $300 in interest from a savings account. She contributed $479 to a tax-deferred retirement plan. She had $530 in itemized deductions from
Charitable contributions. Calculate her gross income.
A) $32,279
B) $33,288
C) $33,767
D) $32,809
Correct Answer:
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Q63: Solve the problem. Refer to the
Q64: Determine whether the spending pattern described is
Q65: Solve the problem. Q66: Solve the equation for the unknown. Q67: Use the given stock table to answer Q69: Prorate the given expenses to find the Q70: Provide an appropriate response. Q71: Assume you have a balance of $3200 Q72: Calculate the amount of interest you'll have Q73: Solve the problem. Refer to the
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