Solve the problem. Refer to the table if necessary. 2013 Marginal Tax Rates, Standard Deductlons, and Exemptlons**
$Solve the problem. Refer to the table if necessary. 2013 Marginal Tax Rates, Standard Deductlons, and Exemptlons** Each higher marginal rate begins where the prior one leaves off. For example, for a single person, the 15 \% marginal rate affects income starting at \$ 8925 , which is where the 10 \% rate leaves off, and continuing up to \$ 36,250 . This table ignores the effects of (i) exemption and deduction phase-outs that apply to high-income taxpayers and (ii) the alternative minimum tax (AMT) that affects many middle-and high-income taxpayers. -Caitlin is single and earned wages of $32,988. She received $300 in interest from a savings account. She contributed $479 to a tax-deferred retirement plan. She had $530 in itemized deductions from Charitable contributions. Calculate her gross income. A)$32,279 B)$33,288 C)$33,767 D)$32,809$

" Each higher marginal rate begins where the prior one leaves off. For example, for a single person, the

15 \%

marginal rate affects income starting at

\$ 8925

, which is where the

10 \%

rate leaves off, and continuing up to

\$ 36,250

.
" This table ignores the effects of (i) exemption and deduction phase-outs that apply to high-income taxpayers and (ii) the alternative minimum tax (AMT) that affects many middle-and high-income taxpayers.
-Caitlin is single and earned wages of $32,988. She received $300 in interest from a savings account. She contributed $479 to a tax-deferred retirement plan. She had $530 in itemized deductions from
Charitable contributions. Calculate her gross income.
A)$32,279
B)$33,288
C)$33,767
D)$32,809

Solve the Problem

Multiple Choice

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