What Is the Amount of the Tax Liability for a Single

question 81

Multiple Choice

What is the amount of the tax liability for a single person having taxable income of $59,200? All answers should be rounded to the nearest dollar. Use the appropriate Tax Tablesor Tax Rate Schedules.

• A)$10,656.
• B)$10,578.
• C)$14,800.
• D)$9,300.

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Definitions:

Earnings Per Share

A company's net profit divided by the number of its shares outstanding, indicating the amount of earnings attributable to each share of stock.

Payment Date

The date on which a dividend check is mailed.

Balance Sheet

A financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a basis for computing rates of return and evaluating its capital structure.

Cash Dividend

A payment made in cash to shareholders, typically distributed from a company's earnings.