Solve the Problem

question 86

Multiple Choice

Solve the problem. Refer to the table if necessary.
-Jeff earned wages of $48,267, received $1837 in interest from a savings account, and contributed $ 3210 to a tax deferred retirement plan. He was entitled to a personal exemption of $3900 and had
Deductions totaling $7314. Find his taxable income.

• A)$60,628
• B)$43,480
• C)$53,314
• D)$35,680

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Definitions:

Percent Change

The proportionate change in a value over time, represented as a percentage, to indicate increase or decrease.

Initial Value

The starting value or condition from which progress or decay is measured.

Subdivision

The act of dividing something, such as land or an organization, into smaller parts or sections.

Two-Bedroom Homes

Residences featuring two bedrooms along with other living spaces such as a living room, kitchen, and bathroom, catering to small families or roommates.