John and Julie Waters are both employed. John is a credit analyst with City Bank and Julie is a speech therapist. Both work for employers that offer 401(k) plans. John will make $92,500 as a credit analyst and Sarah makes $102,500 as a speech therapist. Each can make a 5% contribution to their 401(k) and their employers make a matching contribution to their 401(k).\ \ If they elected not to contribute to their 401(k), what will be the amount of Federal income tax paid?