Multiple Choice
Pat and Joy are considering contributing $5,000 to their church.This contribution will bring their total itemized deductions to $10,000.Assuming they are in the 15% marginal tax bracket,how much will they save in taxes by contributing this $5,000 to their church?
A) $0
B) $150
C) $300
D) $500
E) $1,000
Correct Answer:
Verified
Correct Answer:
Verified
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