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Problem - Amy is a single taxpayer. Her income tax liability in the prior year was $5,178. Amy earns $50,000 of income ratably during the current year and her tax liability is $4,372. In order to avoid penalty, compute the Amy's smallest amount of required annual withholding and estimated payments?
a. $4,372
b. $3,935
c. $5,178
d. $4,660
e. $5,696
Assume now that the internship pays $8,000 per month (paid at the end of the month.) What is the value today of the salary
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Of Isle's $600,000 sales, 60% are made in State A and 40% are made in State B. Determine Isle effective state income tax rate
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