Bill and Maria are a married couple who file a joint income tax return. They have two children, so they claim a total of 4 exemptions ($4,050 for each exemption). In addition, they have legitimate itemized deductions totaling $27,750. Their total income from wages is $200,800. Assume the following tax table is applicable:

Married Couples Filing Joint Returns

If Your Taxable Income Is	You Pay This Amount on the Base of the Bracket	Plus This Percentage on the Excess over the Base	Average Tax Rate at Top of Bracket
Up to $18,650	$0.00	10.0%	10.0%
$18,650-$75,900	1,865.00	15.0	13.8
$75,900-$153,100	10,452.50	25.0	19.4
$153,100-$233,350	29,752.50	28.0	22.4
$233,350-$416,700	52,222.50	33.0	27.1
$416,700-$470,700	112,728.00	35.0	28.0
Over $470,700	131,628.00	39.6	39.6

What is their federal tax liability? (show step by step how to get the results).