Keith,age 17,is a Dependent of His Parents

question 47

Multiple Choice

Keith,age 17,is a dependent of his parents.During 2014,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)$300.
• B)$150.
• C)$280.
• D)None of the above.

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Definitions:

Grand Opening Sale

A promotional event conducted to attract customers to a new business or service, offering products at reduced prices for a limited time to generate interest and traffic.

Letter of Credit

A financial document issued by a bank guaranteeing a buyer's payment to a seller within a specified timeframe.

International Sale

The transaction of goods or services across national borders, subject to international trade laws and regulations.

Issuer

The entity that develops, registers, and sells securities to finance its operations.