3. Individual Income lax (40 points] During the 2017 tax year, the personal exemption was $4,050 and the standard deduction for married taxpayers filing jointly was $12,700. The tax bracket table for that year appears to the right. Table 2. Married Filing Joint Taxable Income Tax Brackets and Rates, 2017 Rate Taxable Income Bracket Tax Owed 10% se to $18,650 10% of taxable income 15% $18,650 to $75,900 $1,865 plus 15% of the excess over $18,650 25% $75,900 to $153,100 $10,452.50 plus 25% of the excess over $75.900 28% 33% $153,100 to $233,350 $29,752.50 plus 28% of the excess over $153,109 $233,350 to $416,780 $52,222.50 plus 33% of the excess over $233,350 $416,700 to $470,700 $112,728 plus 35% of the excess over $416,700 35% 39.60% $470,700+ $131,628 plus 39.6% of the excess over $470,700 Assume a married couple filing jointly has a taxable income of $154,000. 3b) What is this couple's marginal tax rate? 3c) Assuming this couple is not eligible for any credits this year, what is their Average Rate