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In tryouts for the Olympics, a speed skater had times of 44.82, 43.62, 42.64, and 42.29 seconds. Find the average time. ( Hint: Add the numbers and divide by 4.)
Adjusted Gross Income
An individual's total gross income minus specific deductions, used to determine taxable income.
Itemized Deductions
Specific expenses listed on a taxpayer's return that can reduce taxable income, such as mortgage interest and medical expenses.
High-Income Taxpayers
Individuals who earn income above a certain threshold, which subjects them to higher tax rates.
Limitation
A restriction or cap, especially in the context of deductions or benefits in tax terminology.
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