Tax Rates Latesha a single taxpayer had the following income and deductions for

Tax Rates Latesha a single taxpayer had the following income and deductions for the year 2012. INCOME Salary $60000 Business Income $25000 Intrest income(bonds)$10000 Tax-exempt bond interes $ 5000 ________ TOTAL INCOME $100000 DEDUCTIONS: Business Expenses $ 9500 Itemized deductions $20000 Personal exemption $ 3650 – TOTAL DEDUCTIONS $33150 1. Compute Lateshas taxable income and federal tax liability for 2012. 2. Compute Lateshas marginal average and effective tax rate. 3. for tax planning purpose which of the three rates in part 2 is the most important?