A taxpayer has $$10,000$ in charitable contributions and will be using Schedule A with no limitations$.$ The taxpayer is in the $35\%$ marginal tax bracket. The charitable contribution reduced taxable income and his$/$her taxes by:

Group of answer choices

Taxable income is $$10,000$ lower; taxes reduced by $$3,500.$

Taxable income is $$3,500$ lower; taxes reduced by $$10,000.$

Taxable income is $$3,500$ lower; taxes reduced by $$6,500.$

Taxable income is $$10,000$ lower; taxes reduced by $$6,500.$