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Martin and Joanne are both under age 65 and file a joint tax return. Their combined income and deductions are $150,000 salary income, $4,500 municipal

Martin and Joanne are both under age 65 and file a joint tax return. Their combined income and deductions are $150,000 salary income, $4,500 municipal bonds interest income, $5,000 long-term capital gains, and $20,000 allowable itemized deductions. Calculate their taxable income for 2019.

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