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period (per page 49, Publication 15, Circular E--Rev. January 1999 version). Anticipated Refund. Federal tax withheld 6 x $308 = $1,848.00. Tax on a taxable income. of $10,700 (i.e., $15,000. minus $4,300) using a. marginal rate of 15%.* (1,605.00) Refund $ 243.00 *Parents are claiming an exemption for the graduate who is less than 24 years old ................
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