25. Jim (age 50) and Martha (age 49) are married with three dependent children. They file a joint return for 2010. Their income from salaries totals $210,000 and they received

$10,000 in taxable interest, $5,000 in royalties, and $3,000 of other ordinary income. Jim and Martha’s deductions for adjusted gross income amount to $3,200 and they have itemized deductions totaling $24,500, consisting of $20,000 in mortgage interest and

$4,500 in charitable contributions. Calculate the following amounts:

a. Gross income $__________

b. Adjusted gross income $__________

c. Itemized deduction or standard deduction amount $__________

d. Number of exemptions and deduction amount $__________

e. Taxable income $__________