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KIM [24]
3 years ago
10

Alexis is single and in the 22% tax bracket. For the current year, assume she claims a standard deduction of $12,000. In additio

n, she is able to take a $1,000 education tax credit. What is the total tax benefit derived by Alexis as a result of claiming these items on her tax return
Business
1 answer:
guajiro [1.7K]3 years ago
3 0

Answer:

$3,640

Explanation:

The computation of the total tax benefit derived is shown below:

But before that we have to find out the claimed tax benefit

= Standard Deduction × Tax Rate

= $12,000 × 22%

= $2,640

And, the education tax credit is $1,000

So, the total tax benefit derived is

= $2,640 + $1,000

= $3,640

Therefore the tax benefit derived is $3,640

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Therefore, The stand-alone price for installation service using adjusted market assessment is $180

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