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Mark is single and age 64. He has been retired for many years and during...

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Accounting

Mark is single and age 64. He has been retired for many years and during this time in his life his only income is from his monthly pension of $4,000 per month. He has nothing else to report on his tax return.
He is considering buying a two year OID bond for $8,800 that has a face value of $10,000. If he makes this purchase on July 1,2024, then how much additional tax should he expect to pay for tax year 2024. Round your answer to the nearest dollar.
Question 22 options:
$36
$132
$0
$72
$144
$66
$264

Answer & Explanation Solved by verified expert
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