Chad and Amy are married with no children, and they're filing their federal income tax return. Chad had a gross income of $54,300 last year, while Amy had a gross income of $50,900; they plan to use the standard deduction. They're trying to decide whether to file their return jointly or separately, so they want to calculate how much less they would pay in federal income taxes if they filed 2.7.3 jointly rather than separately. Part I: When filing separately, both Chad and Amy have a standard deduction of $5700, and each can claim him- or herself as an exemption for $3650. Neither has any additional adjustments to income. 

What is Chad's taxable income? 

How about Amy's taxable income?

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