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Madison's gross tax liability is $13,000. Madison had $5,280 of tax credits available and she...

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Accounting

Madison's gross tax liability is $13,000. Madison had $5,280 of tax credits available and she had $8,200 of taxes withheld by her employer. What are Madison's taxes due (or taxes refunded) with her tax return?

Multiple Choice

A) $0 taxes due and $0 tax refund.

B) $7,720 taxes due.

C) $480 tax refund.

D) $4,800 taxes due.

Answer & Explanation Solved by verified expert
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