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Assume Tax Rates on Single Individuals Are 10% on Taxable

Question 111

Multiple Choice

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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