Suppose you are in the 25% marginal tax bracket and earn $15,000. Then a tax credit of $1500 will reduce your tax bill by how much?
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Suppose you are in the 25% marginal tax bracket and earn
$15,000.
Then a tax credit of
$1500
will reduce your tax bill by how much?
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- A lump-sum payment of $1,040,000 right now, in which case 45% will be deducted for taxes. We do not know the level of Archie’s investment skills and therefore are unsure what rate of return he will earn on the lump-sum. What is the present value?What should you do if you own a piece of land that you bought 5 years ago for $50,000. The tax rate is 30% and you can assume you have sufficient other income to take advantage of all tax effects. Your after-tax discount rate is 7%.a. You can sell the land today for $200,000. b. You believe the land will be worth $275,000 in five years because you expect a new shopping center to be built next to your land, so You can wait and sell the land at that time (in 5 years).Assume that you work at Walmart part-time during college. Your federal income taxes are $3849 this year and are expected to follow a geometric gradient series with increases of 5% per year through year 6, when you plan to complete graduate studies. Calculate the present worth of the tax series at i=11% per year.
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