Question: solve this problem Chrome File Edit History Bookmarks Profiles Tab Window Help 100% Q Wed Sep 17 9:16 AM Quiz: Homework 4 X Taxable income
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Chrome File Edit History Bookmarks Profiles Tab Window Help 100% Q Wed Sep 17 9:16 AM Quiz: Homework 4 X Taxable income calculation * *Chat Thread X + -) G 2o psu.instructure.com/courses/2418181/quizzes/5368819/take 2258 - 202526FA D Question 3 1 pts Home A married couple with 4 children is filing taxes jointly. They have a gross income of Announcements $416,799, and they made the following tax-deductible purchases: Account Assignments . Charitable contributions: $5,392 Discussions . Medical expenses: $2,830 Dashboard . Mortgage interest: $4,913 Grades 11 Compute their final income tax using the following information: People Courses Files 2024 Married Individuals Filing Joint Returns and Surviving Spouses Groups Syllabus If Taxable Income is Between: The Tax Due is: Quizzes $0 - $23,200 10% of taxable income $23,201 - $94,300 $2,320 plus 12% of the amount over $23,200 Calendar Modules $94,301 - $201,050 $10,852 plus 22% of the amount over $94,300 $201,051 - $383,900 $34,337 plus 24% of the amount over $201,050 Pages $383,901 - $487,450 $78,221 plus 32% of the amount over $383,900 Inbox Collaborations $487,451 - $731,200 $111,357 plus 35% of the amount over $487,450 $731,201 or more $196,669.50 plus 37% of the amount over $731,200 History Library Resources Round your answer to the nearest dollar. Recall the standard deduction for married filers: $29,200 My Media V Notices 10 Help K SEP 7 17 J 4 0Step by Step Solution
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