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Financial 3. David and Billinda are married and file their taxes jointly. David's taxable income was $34,510 and Billinda's was $42,854. David's employer withheld $6,874 in federal taxes. Billinda's employer withheld $9,076 in federal taxes. a. What is their combined taxable income? b. Use the tax tables from the first page to determine their tax. c. Do they get a refund? d. Find the difference between their tax and the amount withheld by their employers.

Financial 3. David and Billinda are married and file their taxes jointly. David's taxable income was $34,510 and Billinda's was $42,854. David's employer withheld $6,874 in federal taxes. Billinda's employer withheld $9,076 in federal taxes. a. What is their combined taxable income? b. Use the tax tables from the first page to determine their tax. c. Do they get a refund? d. Find the difference between their tax and the amount withheld by their employers.

Fundamentals of Financial Management (MindTap Course List)
Fundamentals of Financial Management (MindTap Course List)
14th Edition
ISBN:9781285867977
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter3: Financial Statements, Cash Flow, And Taxes
Section: Chapter Questions
Problem 8P: PERSONAL TAXES Joe and Jane Keller are a married couple who file a joint income tax return, where...
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Financial Math 2 3. David and Billinda are married and file their taxes jointly. David's taxable income was $34,510 and Billinda's was $42,854. David's employer withheld $6,874 in federal taxes. Billinda's employer withheld $9,076 in federal taxes. a. What is their combined taxable income? b. Use the tax tables from the first page to determine their tax. c. Do they get a refund? d. Find the difference between their tax and the amount withheld by their employers.
Transcribed Image Text:Financial Math 2 3. David and Billinda are married and file their taxes jointly. David's taxable income was $34,510 and Billinda's was $42,854. David's employer withheld $6,874 in federal taxes. Billinda's employer withheld $9,076 in federal taxes. a. What is their combined taxable income? b. Use the tax tables from the first page to determine their tax. c. Do they get a refund? d. Find the difference between their tax and the amount withheld by their employers.
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