Calculate roys taxable income

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Reference no: EM13832644

Roy is a single person. He earned $75,000 last year. Among his expenditures last year were $10,000 on interest on his home mortgage, $2,500 payment on the principle of his home loan, $700 in charitable contributions, and $392 for food. And the personal exemption is $3,700.

(a) Calculate Roy’s taxable income.

Reference no: EM13832644

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