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If Your Taxable Income Is Up to $ 8 , 9 2 5 $ 8 , 9 2 5 - $ 3 6 . 2

If Your Taxable Income Is
Up to $8,925
$8,925-$36.250
$36,250-$87.850
2013 Individual Tax Rates
Single Individuals
You Pay This Amount on the Base of the Bracket Plus This Percentage on the Excess over the Base (Marginal Rate)
Average Tax Rate at Top of Bracket
$0
892.50

 
10.0%
10.0%
15.0
13.8
4,991.25
25.0
20.4
$87.850-$183,250
17,891.25
28.0
24.3
$183,250-$398,350
44,603.25
33.0
29.0
$398,350-$400,000
115,586.25
35.0
29.0
Over $400,000
116,163.75
39.6
39.6
Standard deduction for individual: $6,100
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 (Marginal Rate)
Average Tax Rate at Top of Bracket
Up to $17,850
$17.850-$72.500
50
10.0%
10.0%
1,785.00
15.0
13.8
$72.500-$146,400
9,982.50
25.0
19.4
$146,400-$223,050
28.457.50
28.0
22.4
$223,050-$398,350
49,919.50
33.0
27.1
$398,350-$450.000
107,768.50
35.0
28.0
Over $450,000
125,846.00
39.6
39.6
Standard deduction for married couples filing jointly: $12.200
Quantitative Problem: Jenna is a single taxpayer with no dependents so she qualifies for one personal exemption. During 2013, she earned wages of $104,000. She doesn't itemize deductions, so she will take the standard deduction and her personal exemption to calculate 2013 taxable income. In addition, during the year she sold common stock that she had owned for five years for a net profit of $6,000. How much does Jenna owe to the IRS for taxes? Round your intermediated and final answers to the nearest cent.

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