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Determine their standard deduction

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Question - The Lees, a family of two adults, and two dependent children under age 16, had a gross annual income of $68,000 for 2017. In 2017, the standard deduction was $12,700. Determine their standard deduction, exemption, and child tax credit amounts, as well as their marginal and average tax rates, assuming their filing status is married filing jointly. Please show all work.

Reference no: EM132839371

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