30 - Under $15,000 range = $37,391,410,000 / 37,316,940 =...

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Problems 35. Using the information in Table 1-3, determine the average amount of taxable income per tax return, in dollars, for each of the ranges of taxable income provided. Answer: In each case, the average taxable income per return is calculated by dividing total taxable income by the number of tax returns. Remember that the taxable income is shown in thousands so you need to add three zeros to the taxable income number provided.
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Unformatted text preview: Under $15,000 range = $37,391,410,000 / 37,316,940 = $1,002 $15,000 to under $30,000 range = $260,156,186,000 / 29,498,595 = $8,819 $30,000 to under $50,000 range = $559,645,602,000 / 24,486,862 = $22,855 $50,000 to under $100,000 range = $1,339,962,032,000 / 28,166,641 = $47,573 $100,000 to under $200,000 range = $962,802,185,000 / 9,735,569 = $98,895 $200,000 or more range = $1,510,208,520,000 / 3,021,436 = $499,831...
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This note was uploaded on 09/16/2011 for the course ACCOUNTING 145 taught by Professor Eric during the Spring '11 term at Palm Beach Community College.

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