Assume Karen is 12 years old and her only income is $5,500 of interest income from a bank account with money her parents have given her to save for college. If Karen 's parent's tax rate is 35%, and Karen's portion of income is taxed at 10%, what is Karen's income tax liability?   a. $1,650   b. $1,265   c. $550   d. $1,925

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