Consumer Mathematics
Calculating income tax using a tax bracket table
able[[10%,$0-$9,075,$0-$18,150,$0-$9,075,$0-$12,950
O Consumer Mathematics Calculating income tax using a tax bracket table
10%
$0-$9.075
$0-$18,150
$0-$9,075
$0-S12,950
15%
$9,075-$36,900
$18,150-$73,800
$9,075-$36,900
$12,950-$49,400
25%
$36,900-$89,350
$73.800-$148.850
$36,900-S74,425
S49.400-S127.550
28% S89,350-S186,350 $148.850-S226.850
S74.425-S113.425
S127,550-$206,600
33% S186.350-S405.100 $226,850-S405,100
$113,425-$202,550
S206,600-$405,100
35%
S405.100-S406.750
$405,100-$457.600
S202.550-S228.800
S405.100-$432.200
39.6%
Over S406,750
Over $457,600
Over $228,800
Over S432,200
Each row shows the tax rate on a specific portion of the taxpayer's taxable income given their filing status of Single and a taxable income of $40,000.This means that the taxpayer owes 10% tax on the first $9,07 $36,900,and 25% on the amount over $36,900 up to $40,000.
If Kareem and Lucy had a filing status of Married Filing Jointly and together have a taxable income of $112,403 in the year 2014, how much did the couple owe for federal income tax?
Do not round any intermediate computations. Round your answer to the nearest dollar.