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IS single, nden Tnd fiolusd

IS single, nden Tnd fiolusd

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In 2021 a retired individual is single, has no dependents, and holds a part-time job that pays $9,800 per year. The individual also has corporate bonds that pay interest income each year. The individual cannot be claimed as a dependent on anyone's tax return. What is the minimum amount of interest the corporate bonds must pay for this individual to be required to file income taxes? $2,601 $2,751 $7,651 O $9,001
Transcribed Image Text:In 2021 a retired individual is single, has no dependents, and holds a part-time job that pays $9,800 per year. The individual also has corporate bonds that pay interest income each year. The individual cannot be claimed as a dependent on anyone's tax return. What is the minimum amount of interest the corporate bonds must pay for this individual to be required to file income taxes? $2,601 $2,751 $7,651 O $9,001
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