Consider the following information.

Mr$.$ and Mrs$.$ Candlot have a filing status of Married, Filing Jointly.

Their combined, Total Income is $$341,000.$

They claim the Standard Deduction of $$27,700$

They have,Adjustments in the amount of $$10,000.$

They qualify for a tax credit of $$6,000.$

Their taxes paid from their paycheck are $$55,793$

What is their adjusted gross income?

What is their taxable income?

What is their Tax balance?

What is the Candlots Marginal tax rate?

What is their effective tax rate?