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Nataly_w [17]
3 years ago
9

Mitch, a single tax-payer, earns $100,000 in taxable income and $10,000 in interest from an investment in city of Birmingham Bon

ds. Using the U.S. tax rate schedule for year 2019, how much federal tax will he owe?A) N$22,000.B) $18,289.50.C) $13,879.D) $24,000.E) None of the choices are correct.
Business
1 answer:
goldfiish [28.3K]3 years ago
3 0

Answer:

E) None of the choices are correct.

<em>18.289,26‬</em>

<em>As we given an option with two decimals which are different from the calculated amount we should take it as incorrect. </em>

<em></em>

Explanation:

The municipal bonds are tax free. Therfore, not included.

We will calcuatae based on 2019 income tax brackets for single-taxers

between $82,501 to $157,500 the amount is $14,089.50 + 24% of the amount over 78,950

100,000 - 82,501 = 17,499

17,499 x 24% = 4,199.76

14,089.50 + 4,199.76 =<em> 18.289,26‬</em>

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Answer:

C) It includes cash inflows and outflows related to long-term liabilities and equity.

Explanation:

Basically there are three types of activities:

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3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.  

In the above option, option C is a match with the meaning of the financing activities.  

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3 years ago
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3 years ago
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An economy is operating with output $300 billion above its natural level, and fiscal policymakers want to close this expansionar
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3 0
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Which of the following is a component of the talent acquisition function of HR management?
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pay for

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3 years ago
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