Problem

Computing Taxable Income. Thomas Franklin arrived at the following tax information:Gross s...

Computing Taxable Income. Thomas Franklin arrived at the following tax information:

Gross salary, $46,910

Interest earnings, $225

Dividend income, $80

One personal exemption, $3,650

Itemized deductions, $7,820

Adjustments to income, $1,150

What amount would Thomas report as taxable income? (Obj. 2)

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