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Ron adn Gayle, both over 65 years of age, have the following sources of income:...

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Accounting

Ron adn Gayle, both over 65 years of age, have the following sources of income:

Wages $36,000

Interest Income $4,000

Tax exempt interest $4,000

Social Security Benefits $12,000

Ron and Gayle have itemized diductions of $16,000. Compute their taxable income.

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