John and Sue Smith are a married couple who file a joint income tax return. They have two children, so they claim a total of 4 exemptions (based on calendar year 2015 tax law, a personal exemption of $4,000 per person or dependent can be deducted from total income). In addition, they have legitimate itemized deductions totaling $25,750. Their total income from wages is $237,500. What is the couples taxable income?

Group of answer choices

$195,750

$229,500

$205,750

$221,500