Tanya and Luca are married. They are not self-employed and work in New Jersey. They take a standard deduction on their taxes. Tanya earns $156,750/year; Luca earns $227,210/year. They have the following debts: - A monthly mortgage payment on the house they paid $1,700,000 for, but were only able to put a 15% down payment on. Their mortgage terms: are 30 years, 3.95% APR. - PMI on the mortgage at 0.76% - A $58,000 car loan, payable over 6 years at 0.88% APR. - Electricity: $196/month - Oil heat: $2,050/year - Cable/internet: $135/month - Cell phones: $145/month - Water/sewer: $350/quarter - Homeowner's insurance: $912/semiannually - Property tax: $18,925/year - Child care: $1,900/month - Garbage: $90/quarter - Credit minimums: $250/month - Car insurance: $1,155/semiannually The following is New Jersey's relevant state income tax information: No standard deduction For earnings between $75,000 and $500,000, you'll pay 6.37% plus $2,653. 

Calculate Tanya & Luca's discretionary income, correct to the nearest hundredth of a percent.

Answer rating: 100% (QA)

Okay here are the steps to calculate Tanya and Lucas discretionary income 1 Tanyas income 156750 2 L... View the full answer