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 $8,500 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 $79,200 a Compute the following David Filing Single Ruby Filing Single Gross income and AGI Standard deduction (single) Taxable income Income tax $fill in the blank 665a68fb400c022 7 $fill in the blank 665a68fb400c022 8 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 $fill in the blank f69ed0fcb067016 5

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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 student and earns $8,500 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 $79,200.

a. Compute the following:

	David Filing Single	Ruby Filing Single
Gross income and AGI
Standard deduction (single)
Taxable income
Income tax	$fill in the blank 665a68fb400c022_7	$fill in the blank 665a68fb400c022_8

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? $fill in the blank f69ed0fcb067016_5

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