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Author Question: Grant Davis and his wife are filing a joint income tax return and had an adjusted gross income of ... (Read 98 times)

panfilo

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on: Jun 24, 2018
Grant Davis and his wife are filing a joint income tax return and had an adjusted gross income of 81,820, itemized deductions of 8,650, and claimed 3 exemptions. a. What is the amount of taxable income? b. What is their tax liability? (Use Exhibit 18-3 or 18-4 from your text)

Question 2

A sailboat that previously sold for 13,499.95 has been marked down 48. What is the sale price? (Round to the nearest cent)


Jadwiga9

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Reply #1 on: Jun 24, 2018
Answer to Question 1




a. 57,570
b. 7,729


Answer to Question 2

7,019.97


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