Solve the Problem

question 31

Multiple Choice

Solve the problem. Refer to the table if necessary.
-Kelsey earned $65,208 in wages. Conner earned $65,208, all in dividends and long-term capital gains. Calculate the overall tax rate for each, including both FICA and income taxes. Assume they
Are both single and take the standard deduction. Note that long-term capital gains and dividends
Are taxed at 0% for income in the 10% and 15% tax brackets and at 15% for income in all higher tax
Brackets.

• A)Kelsey: 0.0%
• B)Kelsey: 22.6%
• C)Kelsey: 21.4%
• D)Kelsey: 14.9% Conner: 7.3% Conner: 4.4% Conner: 12.0% Conner: 4.4%

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Definitions:

Promiscuous

Exhibiting varied and indiscriminate sexual behavior without forming lasting bonds or commitments.

Eusocial Species

Species that exhibit an extreme level of social organization, characterized by cooperative brood care, overlapping generations within a colony of adults, and a division of labor into reproductive and non-reproductive groups.

Sterile Workers

Individuals in some species of insects, such as ants and bees, that are unable to reproduce but perform other colony functions.

Share Genes

To share genes means to have genetic material in common, typically referring to the genetic similarities among relatives or species.