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

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Accounting

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

Consulting income

$41900

Interest income

4900

Tax-exempt interest

4690

Social security benefits

12700

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

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