Marc, a Single Taxpayer, Earns $60,000 in Taxable Income and $5,000

question 67

Multiple Choice

Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in interest from an investment in city of Birmingham bonds.Using the U.S.tax rate schedule for 2019, how much federal tax will he owe? (Round your final answer to the nearest whole dollar.) (Use tax rate schedule.)

• A)$13,200
• B)$9,059
• C)$7,638
• D)$6,812
• E)None of the choices are correct

---

Definitions:

Negative Net Present Value

A financial metric indicating that the present value of cash inflows is less than the present value of cash outflows, suggesting the investment is not financially viable.

Initial Cost

The upfront expense incurred to purchase an asset or to initiate a project.

Net Present Value

A calculation that compares the value of a dollar today to the value of that same dollar in the future, taking inflation and returns into account.

Required Rate

The minimum return an investor expects to achieve when investing in a particular asset or project.