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Marc, a single taxpayer, earns $122,000 in taxable income and $3,800 in interest from an...

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Accounting

Marc, a single taxpayer, earns $122,000 in taxable income and $3,800 in interest from an investment in the city of Birmingham Bonds. Using the U.S. tax rate schedule for the year 2018, what is his effective tax rate? (Use Tax rate schedules)

Multiple Choice

  • 24.99%

  • 18.74%

  • 19.91%

  • 26.68%

  • None of the choices are correct.

Answer & Explanation Solved by verified expert
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