Karen is single and claims one exemption. Last year she earned ...

[waynest]

Karen is single and claims one exemption. Last year she earned 36,300 in wages. Additional tax information for the year is as follows: interest earned: 125; capital gains from sale of stock: 1,650; penalty on early withdrawal of savings: 300; contributions to Keogh retirement fund: 1,900; real estate taxes paid: 3,000; mortgage interest paid: 3,100. Find the taxable income for the year.
 A) 25,725
  B) 35,275
  C) 29,175
  D) 37,475

Question 2

A television set that previously sold for 319.95 has been reduced to 303.95. What is the markdown percent? (Round to the nearest whole percent)
 A) 12
  B) 6
  C) 8
  D) 5

[at]

Answer to Question 1

A

Answer to Question 2

D

[waynest]

Thanks for the timely response, appreciate it

[sultansheikh]

Excellent