2013 Individual Tax Rates Single Individuals If a Corporation's Taxable Income Is Up to $8,925 58,925 - $36,250 $36,250 - $87,850 587,850 - $183,250 $183, 250 - $398,350 $398,350 - $400,000 Over $400,000 It Pays This Amount on the Base of the Bracket $0 892.50 4,991.25 17,891.25 44,603.25 115,586.25 116,163.75 Plus This Percentage on the Excess over the Base (Marginal Rate) 10.0% 15.0 25.0 Average Tax Rate at Top of Bracket 10.0% 13.8 20.4 24.3 29.0 29.0 39.6 28.0 33.0 35.0 39.6 Standard deduction for individual: $6,100 Married couples Filing Joint Returns It Pays This If a Corporation's Amount on the Taxable Income Is Base of the Bracket Up to $17,850 $0 $17,850 - $72,500 1,785.00 $72,500 - $146,400 9,982.50 S146,400 - $223,050 28,457.50 $223,050 - $398,350 49,919.50 $398,350 - $450,000 107,768.50 Over $450,000 125,846.00 Plus This Percentage on the Excess over the Base (Marginal Rate) 10.0% Le 15.0 25.0 28.0 33.0 35.0 39.6 Average Tax Rate at Top of Bracket 10.0% 13.8 19.4 22.4 27.1 28.0 39.6 Standard deduction for married couples filing jointly: $12,200 Quantitative Problem: Jenna is a single taxpayer with no dependents so she qualifies for one personal exemption. During 2013, she earned wages of $106,000. She doesn't itemize deductions, so she will take the standard deduction and her personal exemption to calculate 2013 taxable income. In addition, during the year she sold common stock that she had ovned for five years for a net profit of $7,900. How much does Jenna owe to the IRS for taxes? Round your intermediated and final answers to the nearest cent. S