need help with quantitative problems please

dx rate on long-term income. Interest income (except interest on state and local government debt which is exempt from federal taxes) is taxed as ordinary inco Generally, interest payments are not tax deductible for individuals except for interest on home mortgages within certain limits. Projecte jointly. If Your Taxable Income Is Up to $9,525 $9,525 - $38,700 $38,700 - $82,500 $82,500 - $157,500 $157,500 - $200,000 $200,000 - $500,000 Over $500,000 2018 Individual Tax Rates Single Individuals You Pay This Plus This Percentage Amount on the on the Excess over the Base of the Bracket Base (Marginal Rate) $0 10.0% 952.50 12.0 4,453.50 22.0 14,089.50 24.0 32,089.50 32.0 45,689.50 35.0 150,689.50 37.0 Average Tax Rate at Top of Bracket 10.0% 11.5 17.1 20.4 22.8 30.1 37.0 Standard deduction for individual: $12,000 If Your Taxable Income IS Up to $19,050 $19,050 - $77,400 $77,400 - $165,000 $165,000 - $315,000 $315,000 - $400,000 $400,000 - $600,000 Over $600,000 Married couples Filing Joint Returns You Pay This Plus This Percentage Amount on the on the Excess over the Base of the Bracket Base (Marginal Rate) $0 10.0% 1,905.00 12.0 8,907.00 22.0 28,179.00 24.0 64,179.00 32.0 91,379.00 35.0 161,379.00 37.0 Average Tax Rate at Top of Bracket 10.0% 11.5 17.1 20.4 22.8 26.9 37.0 Standard deduction for married couples filing jointly: $24,000 Quantitative Problem: Jenna is a single taxpayer. During 2018, she earned wages of $132,000. She doesn't itemize deductions, so she will take 12.0 Married couples Filing Joint Returns You Pay This Plus This Percentage Average Tax If Your Taxable Amount on the on the Excess over the Rate at Income 1s Base of the Bracket Base (Marginal Rate) Top of Bracket Up to $19,950 30 10.04 10.04 $19,050 - $77,400 1.005.00 11.5 $77,400 - $165,000 11,907.00 22.0 17.1 $165,000 - $315.000 23.179.00 24.0 20.4 $315,000 - $400,000 64,179,00 32.0 22.8 $400.000 - 3500,000 91,379.00 35.0 26.9 Over 100.000 161,379.00 37.0 37.0 Standard deduction for married couples lingonly: $24,000 Quantitative Problem jerna is a single taxpayer During 2018, she earned wages of $132,000. She doesn't medections, so she will take the standard deduction to calculate 2018 taxable income. In addition, during the year she told common stock that she had owned for five years for a net profit of $5,000. How much does torna owe to the Rs for taxes? Do not round intermediate calculations. Hound your answer to the nearest cent. Corporate Corporations can most of the income from operations, however, they may also receive interest and dividend income. Trterest income taxed as ordinary income, however tried income is taxed more favorably 50% of God received is excluded from taxable income, while the remain so is tared at the ordinary tax rate. For businesses, payments are regarded as an expense so they are tax deductble: however payments are not tax deductible. Consequently, our tax system encourages debt financing over GuyancingDepreciation expense is tax deductible, so the larger the depreciation, the the taxable income, the lower the taxes, and the higher the firm's operating cash flow, Quantitative Problemi Andrews Corporation has income from operations of 1240,000. In addition, it received interest income of $24,000 and received dividend income of $31,700 from another corporation Travit pad $11,100 of were come to its bondholders and paid $47,100 of dividends to its common stockholders. The firm's federal tax rate is 21%. What is the firm's federal income tax Do not round intermediate calculations Hound your answer to the newest dota