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Mr. and Mrs. David file a joint tax return. They have $169,300 taxable income in 2012, $120,300 of which is ordinary income and $49,000 of which is taxed at a 15% preferential rate. Compute their tax savings from the preferential rate.
Internet Explorer
A discontinued web browser that was developed by Microsoft, once widely used to access the internet.
Licensing Windows
The specific periods during which a licensee is authorized to use, produce, or sell a product according to the terms of a license agreement.
Microsoft
A global technology company founded by Bill Gates and Paul Allen, known for its software products, including the Windows operating system and Office suite.
Deregulation
The process of converting a regulated firm or industry into an unregulated firm or industry.
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