Leonardo, who is married but files separately, earns $155,000 of taxable income. He also has $22,250 in city of Tulsa bonds. His wife, Theresa, earns $106,000 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

• $240.30

• $720.15

• $5,795.70

• None of the choices are correct.