Multiple Choice
Mr. and Mrs. David file a joint tax return. They have $169,300 taxable income in 2020, $120,300 of which is ordinary income and $49,000 of which is taxed at a 15% preferential rate. Compute their tax savings from the preferential rate.
A) $7,032
B) $3,430
C) $780
D) None of these choices are correct
Correct Answer:
Verified
Correct Answer:
Verified
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