Question: 1. Based on the following information, what is the amount of taxable income?
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2. Daniel Simmons arrived at the following tax information:
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What amount would Daniel report as taxable income?
3. What would be the average tax rate for a person who paid taxes of $6,435 on taxable income of $40,780?
4. If $4,323 was withheld during the year and taxes owed were $4,122, would the person owe an additional amount or receive a refund? What is the amount?