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What would be the amount of the exemption

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Question - Indexing Standard Deductions for Inflation - Each year, the Internal Revenue Service adjusts the value of the standard deductions based on inflation (and rounds to the nearest $50). In a recent year, if the exemption was worth $12,000 and inflation was 4.40 percent, what would be the amount of the exemption for the upcoming tax year?

Reference no: EM133119063

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