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Answer :
To determine the tax owed by a married couple filing jointly with a taxable income of \[tex]$97,025, we will look at the relevant tax bracket from the provided tax table. Here's a step-by-step explanation of how to find the correct tax amount:
1. Identify Tax Brackets: We're given a tax table specifically for different filing statuses, including "Married filing jointly."
2. Locate the Applicable Bracket: We need to find the tax bracket that includes a taxable income of \$[/tex]97,025. In the table, we look at the range of taxable incomes and find the correct interval for our situation.
3. Review the Relevant Row: According to the table, the interval for taxable incomes from \[tex]$97,000 to \$[/tex]97,050 applies to our situation since \[tex]$97,025 falls within this range.
4. Determine the Tax Owed: For this specific range (\$[/tex]97,000 to \[tex]$97,050) for those "Married filing jointly," the tax owed is \$[/tex]15,734.
Therefore, the tax owed by the married couple with a taxable income of \[tex]$97,025 is \$[/tex]15,734.
1. Identify Tax Brackets: We're given a tax table specifically for different filing statuses, including "Married filing jointly."
2. Locate the Applicable Bracket: We need to find the tax bracket that includes a taxable income of \$[/tex]97,025. In the table, we look at the range of taxable incomes and find the correct interval for our situation.
3. Review the Relevant Row: According to the table, the interval for taxable incomes from \[tex]$97,000 to \$[/tex]97,050 applies to our situation since \[tex]$97,025 falls within this range.
4. Determine the Tax Owed: For this specific range (\$[/tex]97,000 to \[tex]$97,050) for those "Married filing jointly," the tax owed is \$[/tex]15,734.
Therefore, the tax owed by the married couple with a taxable income of \[tex]$97,025 is \$[/tex]15,734.
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