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Assume current Federal Exemption is $3300.00. Bill Smith earns $37,500.00, is single; and the tax rate is 2 3/4 %. Calculate the tax

Answer :

Aliwohaish12
Tax rate is 2+3/4=2.75%
Income taxable
37,500−3,300=34,200
Tax accrued
34,200×0.0275=940.5

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