How much tax will pay on the income from the rib joint

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Question: Bonnie is married and has 1 child. She owns Bonnie's Rib Joint, which produces a taxable income of approximately $120,000 per year.

Assume that Bonnie's taxable income is $40,000 without considering the income from the rib joint. How much tax will she pay on the $120,000 of income from the rib joint?

Reference no: EM131948271

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