Mr and Mrs

question 44

Multiple Choice

Mr. and Mrs. David file a joint tax return. They have $169,300 taxable income in 2015, $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.

• A) $6,370
• B) $5,443
• C) $4,900
• D) None of the above.

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Definitions:

Geometric Series

A sequence of numbers where each term after the first is found by multiplying the previous one by a fixed, non-zero number called the ratio.

Infinite

Describing a quantity without end or limit, often used in mathematics or to describe concepts that cannot be quantified.

Terms

Defined words or expressions with specific meanings within a particular context or field.

Geometric Series

A series of numbers in which every number, starting with the second, is the result of multiplying the one before it by a consistent, non-zero value referred to as the ratio.