What amount will rosie federal tax payable increase

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Question: Rosie's marginal federal tax rate is 29 percent. He has a foreign investment that earns $50,000 (Canadian) of non-business income. The government of the foreign country withholds $10,000 of this amount, with the remaining $40,000 being remitted to Rosie during 2019. By what amount will Rosie's 2019 federal Tax Payable increase as a result of this transaction?

Reference no: EM132748978

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