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lutik1710 [3]
3 years ago
12

Mitch, a single taxpayer, earns $100,000 in taxable income and $10,000 in interest from an investment in city of Birmingham Bond

s. Using the U.S. tax rate schedule for year 2020, what is his average tax rate (rounded)

Business
1 answer:
omeli [17]3 years ago
3 0

Answer: $18,079.5‬0

Explanation:

The tax is to be paid on the $100,000 alone as the $10,000 is municipal interest and is therefore tax exempt.

Taxes on the $100,000 in 2020;

= 14,605.50 + ( 24% of any amount above 85,525)

= 14,605.50 + ( 24% * ( 100,000 - 85,525))

= $18,079.5‬0

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Answer:

The correct answer is letter "C": Critical Thinking.

Explanation:

Critical Thinking is the type of thinking that allows individuals to discriminate and have a particular judgment over a specific matter. It helps by determining accuracy and validity on that topic by gathering a certain quantity of information to then highlight the most relevant.

7 0
3 years ago
A 1,500 square foot office space is leased at $12.00 square foot. The space is vacant one month out of the year. Office expenses
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$7500

Explanation:

An expense stop is a tool used by landlords to limit their operating costs and maintain predictable operating costs over the terms of the lease. Hence, even though the operating expense is $6.50, the landlord is only accountable for $6.

The operating costs annually would be: 1500 x 6 = 9000

(Even though the office space is vacant for one month of the year, maintenance costs will still be incurred throughout the year, whether leased or vacant)

Annual income :

1500 x 12 = $18000 (12 months)

It should be noted though that the office space is vacant for one month. Hence, landlord only receives 11 months worth of leased rent. Actual income : (18000/12) x 11 = $16500

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3 0
3 years ago
Birth certificates, social security cards, and driver's licenses are all examples of _____ that you might need to provide during
klemol [59]
These are examples of D. documentation

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3 years ago
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Which best describes the purpose served by economic models within an economic system?
posledela

Answer:

The first answer is correct (A).

The theoretical models of economics are characterized by producing insights about the real functioning of the economy. In this way, a well-adjusted model identifies the patterns of functioning of economies, such as economic cycles and the expectation reversion aspects of economic agents and crises.

However, no model has the ability to control any economic aggregate. The models serve for the authorities to get ahead of economic events and make efficient decisions according to their objectives. For example, stimulating the economy, curbing inflation or avoiding crises.

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Hope this answer helps you :)

Have a great day

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3 years ago
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