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01-03-2024
Mathematics

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1. Kris is maried (his spouse does not work and has a read salary of $409,000. He contributes 18% of his salary toward retirement. He has the following adiustments to his taxable income.
- Bank interest earned: $198.10
- Stock dividends earned: $15,312.34
- Capital loss from stock sale: $19,688.04
- Student loan interest repaid: $1.816.14
Calculate Kris' Social Security, Medicare, and federal income tax due.

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