Pyrrha, a 12-Year-Old Dependent of Epimetheus and Pandora, Received $2,200

question 36

Short Answer

Pyrrha, a 12-year-old dependent of Epimetheus and Pandora, received $2,200 of interest income in 2016. Her parents' marginal tax rate is 35%. What is Pyrrha's gross tax liability for the year?

---

Definitions:

Educated

Having received knowledge or learning through schooling or instruction.

Free Think

The practice of forming opinions based on one's assessment of facts and logic independently of authority or conventional wisdom.

Societies

Groups of people who share common traditions, behaviors, or interests and function under a collective organizational structure.

Global High-Tech

Refers to the worldwide industry and community focused on the development and use of high-technology products, services, and innovations.