Question: Problem 3-42 (Algorithmic) (LO. 5, 6, 9) David and Ruby are engaged and plan to get married. During 2021, David is a full-time student and

 Problem 3-42 (Algorithmic) (LO. 5, 6, 9) David and Ruby are
engaged and plan to get married. During 2021, David is a full-time

Problem 3-42 (Algorithmic) (LO. 5, 6, 9) David and Ruby are engaged and plan to get married. During 2021, David is a full-time student and earns $6,700 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Ruby is employed and has wages of $72,600. Click here to access the standard deduction table to use. Click here to access the Tax Rate Schedules. If an amount is zero, enter, "O". Do not round your intermediate computations. Round your final answer to nearest whole dollar. a. Compute the following: David Filing Single Ruby Filing Single Gross income and AGI 6,700 72,600 Standard deduction (single) 12,550 12,550 0 Taxable income 60,050 Income tax o b. Assume that David and Ruby get married in 2021 and file a joint return. What is their taxable income and income tax? Round your final answer to nearest whole dollar. Married b. Assume that David and Ruby get married in 2021 and file a joint return. What is their taxable income and income tax? Round your final answer to nearest whole dollar. Married Filing Jointly Gross income and AGI Standard deduction (married, filing jointly) Taxable income Income tax c. How much Income tax can David and Ruby save if they get married in 2021 and file a joint return

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