Question: JayJay and CeeCee both work for JZ Corporation where JayJay earns $45,000 and CeeCee earns $65,000. JZ Corporation doesnt have a retirement plan for their

JayJay and CeeCee both work for JZ Corporation where JayJay earns $45,000 and CeeCee earns $65,000. JZ Corporation doesnt have a retirement plan for their employees. The following is information related to their taxes for the current tax year. How much more will the couple save in taxes by itemizing deductions rather than taking the standard deduction?

Gross income $???
JayJays Traditional IRA contribution $3,000	Refundable Credit $2,500
CeeCees Traditional IRA contribution $5,000	Standard deduction $15,400
Total itemized deductions $16,200	Marginal tax rate 25 percent

		A. $200
		B. $1,860
		C. $570
		D. $800

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