Exercise 3-24 (LO. 7) In 2018, Simon, age 12, has interest income of $4,800 and no...

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Exercise 3-24 (LO. 7) In 2018, Simon, age 12, has interest income of $4,800 and no...

Exercise 3-24 (LO. 7)

In 2018, Simon, age 12, has interest income of $4,800 and no earned income. He has no investment expenses.

Click here to access the 2018 tax rate schedule and 2018 Estate and Trust Tax Rate Schedule. If required, round the tax liability the nearest dollar.

Net unearned income is	$2,700
Simon's total tax is	$ ?

I just need help finding Simon's total tax. $270, $375, $150 and $483 were wrong. So those aren't even an option. Please show work of how the answer is gotten.

business accounting

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Answer 1

Answer #1

Hi

Let me know in case you face any issue: It is $396. refer below: As per 2018 tax rules, Answer can be different for different tax year: Solution: Answer are highlighted in yellow: Simon has

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Answer 2

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