Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at a local university and earns a salary of $70,000. Meg works part time at the same university. She earns $43,000 a year. The couple does not itemize deductions. Other than salary, the Comers' only other source of income is from the disposition of various capital assets (mostly stocks). (Use the tax rate schedules, Dividends and Capital Gains Tax Rates.) b. What is the Comers' tax liability for 2023 if they report the following capital gains and losses for the year? Short-term capital gains $ 1,500 Short-term capital losses 0 Long-term capital gains 13,000 Long-term capital losses (10,000) Note: Round your final answer to two decimal places.

Schedule Y-1-Married Filing Jointly or Qualifying surviving spouse

If taxable income is over: But not over: The tax is: $ 0 $ 22,000 10% of taxable income

$ 22,000 $ 89,450 $2,200 plus 12% of the excess over $22,000

$ 89,450 $ 190,750 $10,294 plus 22% of the excess over $89,450

$ 190,750 $ 364,200 $32,580 plus 24% of the excess over $190,750

$ 364,200 $ 462,500 $74,208 plus 32% of the excess over $364,200

$ 462,500 $ 693,750 $105,664 plus 35% of the excess over $462,500

$ 693,750 $186,601.5 plus 37% of the excess over $693,750