How much tax do you owe on the interest payment

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You purchase a 6 percent $ 10,000 bond for $ 9,180 plus $ 156 in accrued interest for a total outlay of $ 9,336. Subsequently you receive a $ 300 interest payment. You are in the 20 percent income tax bracket. How much tax do you owe on the interest payment?

Reference no: EM13299986

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How much tax do you owe on the interest payment : You purchase a 6 percent $ 10,000 bond for $ 9,180 plus $ 156 in accrued interest for a total outlay of $ 9,336. Subsequently you receive a $ 300 interest payment. You are in the 20 percent income tax bracket. How much tax do you owe on the int..

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