Marriedding Jointly Consider the following couple, who are engaged to be married. Assume that each person takes one exemption and the standard deduction Answer the questions below using the tax Tax Rate rates in the table to the right 10% 15% Kate and Todd each have an adjusted gross income of 5182,000 25% 28% 3396 35% 396 Standard M Exemption per person Single up to $9525 up to 537950 up to 591,000 up to 5191 650 up to $416 700 up to 5418 400 above 5418 400 56350 up to $10.050 up to 575 600 up to 5153 100 up to $233,350 up to 5416 700 0 $470700 above $470.700 312700 SI deduction 54050 54050 Calculate their income tax if they delay their marriage until next year so they can file their tax returns as individuals at the single tax rate this year Their income tax would be $ (Round to the nearest dollar as needed) Calculate their income tax if they marry before the end of this year and file a joint return Thelt income tax would be s Round to the nearest dollar as needed) Does the couple face a marriage penalty if they marry before the end of the year? (Married rates apply for the entire year, regardless of when during the year the marriage took place Choose the correct answer below Click to select your answers