Lara, a single individual, has $214,000 taxable income. Assume the taxable year is 2022. Use Individual Tax Rate Schedules.

Required:

Compute income tax assuming that:

1. Taxable income includes no capital gain.
2. Taxable income includes $21,000 capital gain eligible for the 15 percent preferential rate.

Note: For all requirements, round your intermediate calculations and final answers to the nearest whole dollar amount.

Individual Tax Rate Schedules

Married Filing Jointly and Surviving Spouse

If taxable income isThe tax isNot over $20,55010% of taxable incomeOver $20,550 but not over $83,550$2,055.00 + 12% of excess over $20,550Over $83,550 but not over $178,150$9,615.00 + 22% of excess over $83,550Over $178,150 but not over $340,100$30,427.00 + 24% of excess over $178,150Over $340,100 but not over $431,900$69,295.00 + 32% of excess over $340,100Over $431,900 but not over $647,850$98,671.00 + 35% of excess over $431,900Over $647,850$174,253.50 + 37% of excess over $647,850

Married Filing Separately

If taxable income isThe tax isNot over $10,27510% of taxable incomeOver $10,275 but not over $41,775$1,027.50 + 12% of excess over $10,275Over $41,775 but not over $89,075$4,807.50 + 22% of excess over $41,775Over $89,075 but not over $170,050$15,213.50 + 24% of excess over $89,075Over $170,050 but not over $215,950$34,647.50 + 32% of excess over $170,050Over $215,950 but not over $323,925$49,335.50 + 35% of excess over $215,950Over $323,925$87,126.75 + 37% of excess over $323,925

Head of Household

If taxable income isThe tax isNot over $14,65010% of taxable incomeOver $14,650 but not over $55,900$1,465.00 + 12% of excess over $14,650Over $55,900 but not over $89,050$6,415.00 + 22% of excess over $55,900Over $89,050 but not over $170,050$13,708.00 + 24% of excess over $89,050Over $170,050 but not over $215,950$33,148.00 + 32% of excess over $170,050Over $215,950 but not over $539,900$47,836.00 + 35% of excess over $215,950Over $539,900$161,218.50 + 37% of excess over $539,900

Single

If taxable income isThe tax isNot over $10,27510% of taxable incomeOver $10,275 but not over $41,775$1,027.50 + 12% of excess over $10,275Over $41,775 but not over $89,075$4,807.50 + 22% of excess over $41,775Over $89,075 but not over $170,050$15,213.50 + 24% of excess over $89,075Over $170,050 but not over $215,950$34,647.50 + 32% of excess over $170,050Over $215,950 but not over $539,900$49,335.50 + 35% of excess over $215,950Over $539,900$162,718 + 37% of excess over $539,900