QUESTION

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Marc Batchelor, a self-employed sales consultant, has estimated annual earnings of $\$ 307,000$ this year. His social security tax rate is $12.4 \%$ up to the wage base, Medicare is $2.9 \%$, and his federal income tax rate is $24 \%$. How much estimated tax (in \$) must Marc send to the IRS each quarter? $\$$

Public Answer

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