Assume tax rates on single individuals are 10% on taxable income up to $9,075, 15% on income of $9,076 to $36,900 and 25% on income of $36,901 to $89,350. What is the tax liability for a single individual with $52,000 of taxable income, which includes $2,000 of dividends?
A) $8,856.25
B) $9,103.50
C) $8,603.50
D) $8,356.25
Correct Answer:
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