25-28: Income Calculations. Compute the gross income, adjusted gross income, and taxable income in each of the following situa- tions. Use the exemptions and deductions in Table 4.9. Explain how you decided whether to itemize deductions or use the standard deduction. 28. Emily and Juan are married and filed jointly. Their com- bined wages were $75,300. They earned $2000 from a rental property they own, and they received $1650 in in- terest. They claimed four exemptions, for themselves and two children. They contributed $3240 to their tax-deferred retirement plans, and their itemized deductions totaled $9610. ly le TABLE 4.9 Tax Rate" 10% 15% 25% 28% 33% 35% 39.6% Standard deduction Exemption (ner person). 2017 Marginal Tax Rates, Standard Deductions, and Exemptions* Married Filing Married Filing Single Jointly Separately up to $9325 up to $18,650 up to $37,950 up to $75,900 up to $91,900 up to $153,100 up to $233,350 up to $416,700 up to $191,650 up to $416,700 up to $418,400 above $418,400 up to $470,700 above $470,700 $12,700 $6350 $4050 $4050 up to $9325 up to $37,950 up to $76,550 up to $116,675 up to $208,350 up to $235,350 above $235,350 $6350 $4050 Head of Household up to $13,350 up to $50,800 up to $131,200 up to $212,500 up to $416,700 up to $444,550 above $444,550 $9350 $4050