How do I solve for number 5 and 6 in the lower left corner with the given information?

ryone has to pay taxes, but how much you pay depends on a lot of factors. In this activity, explore how ary and tax shelter contributions can have a big impact on how much you pay in taxes. rt : Taxes and Salary e biggest variable in the amount of taxes you pay is how much you make. Click the blue hyperlink to use Tax brackets 2023 rdwallet's Federal Income Tax Calculator to compare the two individuals below and see how their tax rdens differ due to a large difference in salary. (If the link does not open, you can copy and paste this url: ps://www.nerdwallet.com/taxes/tax-calculator Tax Rate Single Married filing joint Married filing separately Head of Meet Marcel Meet Stephanie household 10% Marcel is in his first job after Stephanie has been working at $0 to $11,000. $0 to $22,000. $0 to $15,70 college, working at City Center City Center Bank for 5 years. She $0 to $11,000. Bank as a teller. DO is now an assistant manager. 12% $11,001 to $22,001 to She is not married, nor does she $44.725. $89.450. $11,001 to $15,701 to He is not married, nor does he $44.725. $59,850. have any dependents. have any dependents. She will be 28 on Jan 1 of the 22% He will be 23 on Jan 1 of the $44.726 to $95,375." $89,451 to $44,726 to current year. $190,750. 95.375 $59,851 to current year. $95,350. Marcel's wages (regularly Stephanie's wages (regularly taxed income) is $50,000. 24% $95,376 to $190,751 to $95,376 to taxed income) is $35,000 $182,100. $364,200. $182100. $95,351 to $182,100. Neither has withheld any money towards federal or state taxes, and has no unemployment income 32% $182,101 to Neither is being claimed as a dependent by their parents or anyone else $364,201 to $182,101 to $231,250. $182,101 to $462,500. $231,250 $231,250. Neither contributes to a 401(k) or IRA Both will use the standard deduction 35% $231,251 to $462,501 to $231,251 to $231,251 t $578,125. $693,750. $346,875. $578,100. ost people have money withheld from each paycheck to avoid paying a huge bill at the end of every year. We're assuming no holdings to illustrate the total amount in taxes paid throughout the year. 37% $578,126 or $693,751 or $346,876 or $578,101 more. more. more. e - For this activity, we are only calculating Marcel and Stephanie's federal taxes. Texas does not issue a state income tax. more . n the tables below based on the information calculated by the Nerdwallet's Federal Income Tax Calculat Marcel's Taxes 35,000-13,850 2. Stephanie's Taxes 50,000-13,850 Standard deduction for 2023 cable Income 21 , 150 Taxable Income 36 , 150 Filing status 2023 standard ective Tax Rate 10.960%. Effective Tax Rate 11. 39 17. Single $13,850. imated Federal Taxes 2, 318 Estimated Federal Taxes 4, 118 SO Married, filing separately $13,850. imated Taxes Withheld $0 Estimated Taxes Withheld imated Amount Owed 2,318 Estimated Amount Owed 4, 118 Married, filing jointly; qualified widow/er $27,700. Head of household $20,800. 6727 page 1 4. Why are Marcel's and Stephanie's taxable incomes less than their annual salaries? 10149 *0.12 = 12,178. 88 Marcel and stephanies Taxable incomes are their salaries due to deductions 5. Fill in the blanks: * Show calculations to support your answers below. Stephanie makes 0 . U3 1 % more than Marcel, but she pays. % more in taxes than Marcel. 0.11 3 91 - 0. 1096= 0.00431 x100 = 0.431-1. . Now let's say Stephanie makes the same $50,000 Stephanie's Taxes under the same conditions but she puts $6,000 per year into her 401(k) to save towards retirement. Taxable Income Rerun her tax estimate using the Nerdwallet's Federal Effective Tax Rate Income Tax Calculator. a. How does the $6,000 contribution to her 401(k) Estimated Federal Taxes affect her taxable income? Estimated Taxes Withheld $0 Estimated Amount Owed b. Fill in the blanks: * Show calculations to support your answers below. Stephanie still makes % more than Marcel, but after contributing $6000 into her 401(k) she now only pays more in taxes than Marcel