# Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information:

Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information:

• She received \$105,000 in salary.
• She received \$13,000 of dividend income.
• She received \$6,400 of interest income on Home Depot bonds.
• She received \$23,500 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of \$5,300.
• She received \$11,000 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of \$4,100.
• Mary receives one exemption (\$4,000), and she has allowable itemized deductions of \$7,500. These amounts will be deducted from her gross income to determine her taxable income.

Assume that her tax rates are based on Table 3.5.

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Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information:
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What is Mary’s federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations.

\$

What is her marginal tax rate? Round your answer to 1 decimal place.

%

What is her average tax rate? Round your answer to 2 decimal places.

Assume that marginal tax rate is 28%

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