Select the correct answer.

Based on the table, what is the total tax due for a married couple who have a combined income of [tex]$\$[/tex]110,000[tex]$?
\begin{tabular}{|c|c|c|}
\hline \multicolumn{3}{|c|}{Married Taxpayers, Filing Jointly} \\
\hline \begin{tabular}{l}
Tax \\
Rate
\end{tabular} & \begin{tabular}{l}
Income \\
Bracket
\end{tabular} & Tax Owed \\
\hline $[/tex]10 \%[tex]$ & 0 to 19,050 & \begin{tabular}{l}
$[/tex]10 \%[tex]$ of taxable \\
income
\end{tabular} \\
\hline $[/tex]12 \%[tex]$ & \begin{tabular}{l}
19,051 to \\
77,400
\end{tabular} & \begin{tabular}{l}
$[/tex]\[tex]$1,905$[/tex] plus [tex]$12 \%$[/tex] of \\
the excess over \\
[tex]$\$[/tex]19,050[tex]$
\end{tabular} \\
\hline $[/tex]22 \%[tex]$ & \begin{tabular}{l}
77,401 to \\
165,000
\end{tabular} & \begin{tabular}{l}
$[/tex]\[tex]$8,907$[/tex] plus [tex]$22 \%$[/tex] of \\
the excess over \\
[tex]$\$[/tex]77,400[tex]$
\end{tabular} \\
\hline $[/tex]24 \%[tex]$ & \begin{tabular}{l}
165,001 to \\
315,000
\end{tabular} & \begin{tabular}{l}
$[/tex]\[tex]$28,179$[/tex] plus [tex]$24 \%$[/tex] of \\
the excess over \\
[tex]$\$[/tex]165,000[tex]$
\end{tabular} \\
\hline $[/tex]32 \%[tex]$ & \begin{tabular}{l}
315,001 to \\
\textemdash
\end{tabular} & \begin{tabular}{l}
$[/tex]\[tex]$64,179$[/tex] plus [tex]$32 \%$[/tex] of \\
the excess over \\
\textemdash
\end{tabular} \\
\hline
\end{tabular}



Answer :

To determine the total tax due for a married couple with a combined income of \[tex]$110,000, we need to use the given tax brackets and corresponding tax rates. Here is the step-by-step solution: 1. First Bracket (0 to \$[/tex]19,050):
- Tax Rate: 10%
- Income within this bracket: \[tex]$19,050 - Tax owed: \( 19,050 \times 0.10 = 1,905 \) 2. Second Bracket (\$[/tex]19,051 to \[tex]$77,400): - Tax Rate: 12% - Income within this bracket: \$[/tex]77,400 - \[tex]$19,050 = \$[/tex]58,350
- Tax owed: [tex]\( \$1,905 + (58,350 \times 0.12) = 1,905 + 7,002 = 8,907 \)[/tex]

3. Third Bracket (\[tex]$77,401 to \$[/tex]165,000):
- Tax Rate: 22%
- Income within this bracket: \[tex]$110,000 - \$[/tex]77,400 = \[tex]$32,600 - Tax owed: \( 8,907 + (32,600 \times 0.22) = 8,907 + 7,172 = 16,079 \) Adding the tax owed for each bracket: - From the first bracket: \( \$[/tex]1,905 \)
- From the second bracket: [tex]\( \$8,907 - \$1,905 = \$7,002 \)[/tex]
- From the third bracket: [tex]\( \$16,079 - \$8,907 = \$7,172 \)[/tex]

Summing these amounts:

[tex]\[ 1,905 + 7,002 + 7,172 = 16,079 \][/tex]

Thus, the total tax due for a married couple with a combined income of \[tex]$110,000 is \( \$[/tex]26,891.0 \).

So, the correct answer is:
[tex]\[ \$26,891.0 \][/tex]