Leonardo, who is married but files separately, earns $147,250 of taxable income. He also has $16,250 in city of Tulsa bonds. His wife, Theresa, earns $84,250 of taxable income. How much money would Leonardo and Theresa save if they file jointly instead of separately for year 2018? (Use tax rate schedule)

Multiple Choice

Nothing

$194.70

$583.35

$5,841.30

None of the choices are correct.

2018 Tax Rate Schedules