Use the 2016 marginal tax rates to compute the income tax owed by the following person. Single male, no dependents. Gross income:$82,000 Adjustments: $2000 Deductions: $27,000 mortgage interest $4278 property taxes $4000 charitable contributions Tax credit:none Click the icon to view the 2016 marginal tax rates. The income tax owed is $. (Type an integer or a decimal. Round to the nearest cent as needed.)
Use the 2016 marginal tax rates to compute the income tax owed by the following person. Single male, no dependents. Gross income:$82,000 Adjustments: $2000 Deductions: $27,000 mortgage interest $4278 property taxes $4000 charitable contributions Tax credit:none Click the icon to view the 2016 marginal tax rates. The income tax owed is $. (Type an integer or a decimal. Round to the nearest cent as needed.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A9
Transcribed Image Text:Use the 2016 marginal tax rates to compute the income tax owed by the following
person.
Single male, no dependents.
Gross income:$82,000
Adjustments: $2000
Deductions: $27,000 mortgage interest
$4278 property taxes
$4000 charitable contributions
Tax credit:none
Click the icon to view the 2016 marginal tax rates.
The income tax owed is $.
(Type an integer or a decimal. Round to the nearest cent as needed.)
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