1. Calculate Tax Liability. What would be the tax liability for a single taxpayer who has a gross income of $50,050? (Hint: Use Table 4-3, and don't forget to subtract the value of a standard deduction and one exemption.) Tax Table* If Taxable income is Your Tax Is At Least 25,000 25,050 25,100 27,850 27,900 30,000 30,050 30,100 30,150 39,600 39,650 39,700 39,750 40,200 40,250 47,800 47,850 48,550 48,600 48,900 48,950 49,200 49,250 53,050 53,100 56,050 56,100 59,000 59,050 74,100 74,150 90,200 90,250 But Less Than 25,050 25,100 25,150 27,900 27,950 30,050 30,100 30,150 30,200 39,650 39,700 39,750 39,800 40,250 40,300 47,850 47,900 48,600 48,650 48,950 49,000 49,250 49,300 53,100 53,150 56,100 56,150 59,050 59,100 74,150 74,200 90,250 90,300 Single 3,290 3,298 3,305 3,718 3,725 4,040 4,048 4,055 4,063 5,678 5,690 5,703 5,715 5,328 5,340 7,228 7,240 7,915 7,928 7,503 8,015 8,078 8,090 9,040 9,063 9,875 9,803 10,528 10,540 14,303 14,315 18,328 18,340 Married Filing Jointly 2,826 2,834 2,841 3,254 3,261 3,576 3,584 3,591 3,599 5,016 5,024 5,031 5,039 5,106 5,114 6,246 6,254 6,359 6,366 6,411 6,419 6,456 6,464 7,034 7,041 7,484 7,491 7,926 7,934 10,191 10,199 14,099 14,111