Jurisdiction M imposes an individual income tax based on the following schedule. Rate Income bracket 5% $-0- to $50,000 + 8% $50,001 to $200,000 + 12% $200,001 and above Ms. Owen has $314,000 taxable income. Compute the tax on this income. Multiple Choice $29,680 $28,180 $37,680 None of the choices are correct