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In 2019, Richard, a single taxpayer, has adjusted gross income of $40,200. His AGI includes $4.000 of qualified dividends. Ri
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Answer #1

Answer) B. $2686

Explanation:

AGI - Standard Deduction = Taxable Income

40200 - 12200 = 28000

Taxable Income - Qualified dividends

28000 - 4000 = 24000

Tax = (24000 - 9700) x 12% + 970

= $2686

*Qualified dividends are not taxed, since his marginal tax rate is 12%.

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