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Unformatted text preview: ..also known as the 35 percent tax bracket. b. Calculate the tax liability for a single taxpayer with $50,000 in taxable income? • $8,694. c. Has the tax liability increased or decreased since the previous year? • It has decreased by $156. See attachments. 1...
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This note was uploaded on 04/25/2010 for the course FIN 497 taught by Professor Clements during the Spring '10 term at University of Missouri-Kansas City .
- Spring '10