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Molly and Justin Are Considering Contributing $5,000 to a Tax-Deductible

question 52

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Molly and Justin are considering contributing $5,000 to a tax-deductible charity.This contribution will bring their total itemized deductions to $20,000.Assuming they are in the 28% marginal tax bracket,how much will they save in taxes by contributing the $5,000 to charity?


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