Find the gross income, the adjusted gross income, and the taxable income. A single man earned wages of $87,200, received $2680 in interest from a savings account and contributed $3200 to a tax-deferred savings plan. He is entitled to a personal exemption of $4050 and a standard deduction of $6300. The interest on his home mortgage was $11,700, he paid $4300 in property taxes and $5220 in state taxes, and he contributed $15,000 to charity.
Find the gross income, the adjusted gross income, and the taxable income. A single man earned wages of $87,200, received $2680 in interest from a savings account and contributed $3200 to a tax-deferred savings plan. He is entitled to a personal exemption of $4050 and a standard deduction of $6300. The interest on his home mortgage was $11,700, he paid $4300 in property taxes and $5220 in state taxes, and he contributed $15,000 to charity.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
![Find the gross income, the adjusted gross income, and
the taxable income.
A single man earned wages of $87,200, received
$2680 in interest from a savings account and
contributed $3200 to a tax-deferred savings plan. He
is entitled to a personal exemption of $4050 and a
standard deduction of $6300. The interest on his
home mortgage was $11,700, he paid $4300 in
property taxes and $5220 in state taxes, and he
contributed $15,000 to charity.
$89,880; $86,680; $46,410
$89,880; $86,680; $46,140
$89,880; $86,860; $46,410
$89,800; $86,680; $46,400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd6ab7ca5-51fa-454e-842e-86ba3814ee69%2F3196110b-fe81-4973-8a07-ba7ce1c0b2ee%2Fiojiwhg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Find the gross income, the adjusted gross income, and
the taxable income.
A single man earned wages of $87,200, received
$2680 in interest from a savings account and
contributed $3200 to a tax-deferred savings plan. He
is entitled to a personal exemption of $4050 and a
standard deduction of $6300. The interest on his
home mortgage was $11,700, he paid $4300 in
property taxes and $5220 in state taxes, and he
contributed $15,000 to charity.
$89,880; $86,680; $46,410
$89,880; $86,680; $46,140
$89,880; $86,860; $46,410
$89,800; $86,680; $46,400
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