Larry age 36 is a Master welder who works for Oklahoma welding Company, his wife Kay also 36 yrs old has a job with the local oil company. Larry's Salary: $40,000 Kay's Salary: $20,000 Larry's 401K deferral: $4000 Kay's 401K deferral: $2000 Both have a student loan interest of $290 They both file "Married filed jointly" and so take a standard deduction of $24,400 With the above information, calculate the taxable income of Larry family: Group of answer choices

$53,710

$54,000

$60,000

$29,310