THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 134

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Starting with a sample of two values 70 and 100,add three data values to your sample to obtain a new sample with certain statistics.
-What are the three data values such that the new sample has a mean of 100 and a median of 70? Justify your answer.

Understand the criminal penalties associated with tax fraud.

Apply tax rate schedules and tables to calculate tax liability for various filing statuses.

Explain the concept and purpose of withholding in the tax system.

Determine the standard deduction applicable under specific conditions.

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Definitions:

Guaranty Contract

A legal agreement wherein a guarantor agrees to fulfill the obligations of a debtor to a lender, should the debtor fail to do so.

Creditor

An entity (person or institution) that lends money or extends credit to another entity, with the expectation of being repaid in the future.

Debtor's Debt

Debtor's debt refers to the monetary obligation owed by a debtor to a creditor, resulting from a loan or another credit agreement.

Real Property

Land and anything permanently attached to it, such as buildings and structures.