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Consider the following tax schedule for the year 2023: 10% $0 to $11,000. 10% of taxable income. 12% $11,001 to $44,725. $1,100 plus 12% of

Consider the following tax schedule for the year 2023:

10%

$0 to $11,000.

10% of taxable income.

12%

$11,001 to $44,725.

$1,100 plus 12% of the amount over $11,000.

22%

$44,726 to $95,375.

$5,147 plus 22% of the amount over $44,725.

24%

$95,376 to $182,100.

$16,290 plus 24% of the amount over $95,375.

32%

$182,101 to $231,250.

$37,104 plus 32% of the amount over $182,100.

35%

$231,251 to $578,125.

$52,832 plus 35% of the amount over $231,250.

37%

$578,126 or more.

$174,238.25 plus 37% of the amount over $578,125.

Suppose your taxable income in 2023 is $71566. How much will you owe in taxes? State your answer as a number rounded to two decimal points (e.g. if your answer is $5,678.784, write 5678.78)

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