Problem 3-38 (Algorithmic) (LO. 5, 6, 8) Preston and Anna are engaged and plan to get married. During 2024, Preston is a full-time student and earns $9,400 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Anna is employed and has wages of $80,520. Click here to access the standard deduction table to use. Click here to access the Tax Rate Schedules. If an amount is zero, enter "0". Do not round your intermediate computations. Round your final answer to the nearest whole dollar. a. Compute the following: Preston Anna Filing Single Filing Single Gross income and AGI $ % Standard deduction (single) Taxable income $ $ Income tax $ % b. Assume that Preston and Anna get married in 2024 and file a joint return. What is their taxable income and income tax? Round your final answer to the nearest whole dollar. Married Filing Jointly Gross income and AGI $ Standard deduction (married, filing jointly) Taxable income % Income tax $ . How much income tax can Preston and Anna save if they get married in 2024 and file a joint return? ] 2024 Tax Rate Schedules SingleSchedule X Head of householdSchedule Z If taxable of the If taxable of the income is: But not amount income is: But not amount Over over The taxis: over Over over The taxis: over 5 0 $ 11,600 e 10% $ 0 $ 0 $ 16,550 cereeen. 10% S 0 11,600 47,150 $ 1,160.00 + 12% 11,600 16,550 63,100 $ 1,655.00 + 12% 16,550 47,150 100,525 5,426.00 + 22% 47,150 63,100 100,500 7,241.00 + 22% 63,100 100,525 191,950 17,168.50 + 24% 100,525 100,500 191,950 15,469.00 + 24% 100,500 191,950 243,725 39,110.50 + 32% 191,950 191,950 243,700 37,417.00 + 32% 191,950 243,725 609,350 55,678.50 + 35% 243,725 243,700 609,350 53,977.00 + 35% 243,700 609,350 ......... 183,647.25 + 37% 609,350 609,350 ... 181,954.50+ 37% 609,350 Married filing jointly or Qualifying widow(er) Married filing separatelySchedule Y-2 Schedule Y-1 If taxable of the If taxable of the income is: But not amount income is: But not amount Over over The taxis: over Over over The taxis: over $ 0 $ 23200 ... 10% $ 0 $ 0 $ 11,600 ceeeeen.10% $ 0 23,200 94300 $ 2,320.00 + 12% 23,200 11,600 47,150 $ 1,160.00 + 12% 11,600 94,300 201,050 10,852.00 + 22% 94,300 47,150 100,525 5,426.00 + 22% 47,150 201,050 383,900 34,337.00 + 24% 201,050 100,525 191,950 17,168.50 + 24% 100,525 383,900 487,450 78,221.00 + 32% 383,900 191,950 243,725 39,110.50 + 32% 191,950 487,450 731,200 111,357.00 + 35% 487,450 243,725 365,600 55,678.50 + 35% 243,725 731,200 ... 196,669.50 + 37% 731,200 365600 Ll 98,334.75 + 37% 365,600 m Basic Standard Deduction Amounts Filing Status Single Married, filing jointly Surviving spouse Head of household Married, filing separately 2023 $13,850 27,700 27,700 20,800 13,850 2024 $14,600 29,200 29,200 21,900 14,600