In 1980, one Zimbabwean dollar was worth 1.47 U.S. dollars….

In 1980, one Zimbabwean dollar was worth 1.47 U.S. dollars. By the end of 2008, the exchange rate was one U.S. dollar to 2 billion Zimbabwean dollars. When an economy experiences rapid increases in the price level such as what occurred in Zimbabwe, the economy is said to experience 

Wendy is a W4 employee and a single mother filing head of ho…

Wendy is a W4 employee and a single mother filing head of household. She makes $55,000 per year in gross income. Wendy chooses to use the IRS standard deduction for her taxable income. The standard deduction is $13,000 for a single person and $26,000 for a married couple. According to the 2023 tax table she owes a total of $7,407. She qualifies for a $3,000 child care tax credit and a  $2,000 college tuition credit. How much federal income tax does Wendy owe?