Alan and Sara Winthrop are a married couple who file a joint income tax return....
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Alan and Sara Winthrop are a married couple who file a joint income tax return. They have two children, and they have legitimate itemized deductions totaling $25,750. Their total income from wages is $357,600. Assume the following tax table is applicable: Married Couples Filing Joint Returns Plus This Percentage Average Tax If Your Taxable You Pay This Amount on on the Excess over Rate at Top of Income Is the Base of the Bracket the Base Bracket Up to $19,050 $0.00 10.0% 10.0% $19,050-$77,400 1,905.00 12.0 11.5 $77,400-$165,000 8,907.00 22.0 17.1 $165,000-$315,000 28,179.00 24.0 20.4 $315,000-$400,000 64,179.00 32.0 22.8 $400,000-$600,000 91,379.00 35.0 26.9 Over $600,000 161,379.00 37.0 37.0 What is their federal tax liability? O a. $49,048.50 O b. $54,707.25 O c. $69,571.00 O d. $52,820.50 O e. $57,851.00
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