Use the 2012 marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar as needed. A manied couple filing jointly with a taxable income of $296,000 and a $7000 tax credit Click the icon to view the 2012 marginal tax rates. The tax owed is $ (Round to the nearest cent as needed.)

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 72TA
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Use the 2012 marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar as needed.
A manied couple filing jointly with a taxable income of $296,000 and a $7000 tax credit
Click the icon to view the 2012 marginal tax rates.
The tax owed is $
(Round to the nearest cent as needed.)
Transcribed Image Text:Use the 2012 marginal tax rates to compute the tax owed by the following person. Round taxable income to the nearest dollar as needed. A manied couple filing jointly with a taxable income of $296,000 and a $7000 tax credit Click the icon to view the 2012 marginal tax rates. The tax owed is $ (Round to the nearest cent as needed.)
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