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Problem 1-49 (LO 1-4) Use the below
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# Question : Problem 1-49 (LO 1-4) Use the below : 4291

Problem 1-49 (LO 1-4)

Use the below Tax Rate Schedules to determine the tax liability for each of the following cases. (Round your intermediate computations and final answers to 2 decimal places.)

Single taxpayer, taxable income of \$29,464.

Single taxpayer, taxable income of \$76,792.

Married taxpayers, who file a joint return, have taxable income of \$76,792.

Married taxpayers, who file a joint return, have taxable income of \$97,137.

Married taxpayers, who file a joint return, have taxable income of \$29,464.

Single taxpayer, taxable income of \$97,137.

Tax Table

Schedule X-Single

If taxable income is over:

But not over:

The tax is:

\$0

\$9,275

10% of taxable income

\$9,275

\$37,650

\$927.50 plus 15% of the excess over \$9,275

\$37,650

\$91,150

\$5,183.75 plus 25% of the excess over \$37,650

\$91,150

\$190,150

\$18,558.75 plus 28% of the excess over \$91,150

\$190,150

\$413,350

\$46,278.75 plus 33% of the excess over \$190,150

\$413,350

\$415,050

\$119,934.75 plus 35% of the excess over \$413,350

\$415,050

\$120.529.75 plus 39.6% of the excess over \$415,050

Schedule Y-1-Married Filing Jointly of Qualifying Widow(er)

If taxable income is over:

But not over:

The tax is:

\$0

\$18,550

10% of taxable income

\$18,550

\$75,300

\$1,855.00 plus 15% of the excess over \$18,550

\$75,300

\$151,900

\$10.367.50 plus 25% of the excess over \$75,300

\$151,900

\$231,450

\$29,517.50 plus 28% of the excess over \$151,900

\$231,450

\$413,350

\$51,791.50 plus 33% of the excess over \$231,450

\$413,350

\$466,950

\$111,818.50 plus 35% of the excess over \$413,350

\$466,950

\$130,578.50 plus 39.6% of the excess over \$466,950

 Schedule X-Single If taxable income is over: But not over: The tax is: \$0 \$9,275 10% of taxable income \$9,275 \$37,650 \$927.50 plus 15% of the excess over \$9,275 \$37,650 \$91,150 \$5,183.75 plus 25% of the excess over \$37,650 \$91,150 \$190,150 \$18,558.75 plus 28% of the excess over \$91,150 \$190,150 \$413,350 \$46,278.75 plus 33% of the excess over \$190,150 \$413,350 \$415,050 \$119,934.75 plus 35% of the excess over \$413,350 \$415,050 — \$120.529.75 plus 39.6% of the excess over \$415,050

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