Keith,age 17,is a Dependent of His Parents

question 67

Multiple Choice

Keith,age 17,is a dependent of his parents.During 2016,he received $3,000 of dividend income.The parent's marginal rate is 28% and Keith's rate is 10%.Keith's tax is

• A)$292.50.
• B)$130
• C)$357.
• D)None of the above.

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Definitions:

Chewing Gum

Chewing gum is a type of flavored and chewable confectionery designed to be chewed without being swallowed.

Gold Jewelry

Ornamental items made of gold, often used as a form of adornment or investment.

Bus Tickets

Physical or electronic documents that allow an individual to travel on a bus for a specific journey.

Inferior Goods

Goods whose demand decreases as the income of the consumers increases, opposite to what is observed with normal goods.