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Assume the federal income tax table for 2020 is as shown below. What is each individuals 2020 tax if the individual (A, B, C, and

Assume the federal income tax table for 2020 is as shown below. What is each individuals 2020 tax if the individual (A, B, C, and D) has only her own personal exemption, if any, and uses the basic standard deduction for a single person, and has Adjusted Gross Income of:

A: $60,000

B: $98,000

C: $120,000

D: $20,000

[Use this table and please show your work for each of the four cases]

Tax rate

Taxable income bracket

Tax owed

10%

$0 to $9,875

10% of taxable income

12%

$9,876 to $40,125

$987.50 plus 12% of the amount over $9,875

22%

$40,126 to $85,525

$4,617.50 plus 22% of the amount over $40,125

24%

$85,526 to $163,300

$14,605.50 plus 24% of the amount over $85,525

32%

$163,301 to $207,350

$33,271.50 plus 32% of the amount over $163,300

35%

$207,351 to $518,400

$47,367.50 plus 35% of the amount over $207,350

37%

$518,401 or more

$156,235 plus 37% of the amount over $518,400

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