Please show work. Thanks.
For Taxable Income = $205,100
Calculating Tax,
15% on $50,000 = $7,500
25% on $75,000-$50,000 = $6,250
34% on $100,000 - $$75,000 = $8,500
39% on $205,100 - $100,000 = $40,989
Adding above,
Total Tax = $63,239
Please show your work. Thanks in advance!
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