In these teaching notes, we provide the following items: (1) suggested solutions for the 2019 tax year; and (2) a suggested grading rubric. In the supplemental materials, we also include the following files:

Update the provided Excel spreadsheet for 2019 tax rates and limitations, and for the “Married Filing Jointly” (MFJ) status. Use the spreadsheet and your knowledge of time value of money concepts to answer the following questions.

The following is a suggested grading rubric.

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