8. 13.8 Last year Jennifer was single; this year she is married to Manish. Salaries, deductions, and other information are listed for the two years. Determine the federal income taxes for each when they file as “Single” and now as “Married filing jointly” using Table 13.2 rates. Is there a financial benefit or penalty for being married and filing as such? What is the size of the benefit or penalty? Table Summary: Table divided into four columns shows data to calculate financial benefits of a couple. Column 1 notes the account heads. Columns to 2 to 4 are marked as: Jennifer, last year Manish, last year Jennifer/Manish, this year Jennifer, Last Year Manish, Last Year Jennifer/Manish, This Year Salary, $ 75,000 75,000 150,000 Other income, $ 5,000 5,000 10,000 Standard deduction, $ 12,000 12,000 24,000 Filing status Single Single Married filing jointly Page 416