Multiple Choice Question

Zack is single and has collected the following information for preparing his $2024$ taxes: Gross income $$74,000,$ tax credits $$2,500,$ itemized deductions $$15,850,$

deductions for AGI $$5,000,$ tax prepayments $$8,400.$ Based on this information, Zack's "adjusted gross income" equals $ and his "taxable income" equals

adjusted gross income $=$$$69,000$ and taxable income $=$$$54,400$

adjusted gross income $=$$$66,500$ and taxable income $=$$$47,650$

adjusted gross income $=$$$69,000$ and taxable income $=$$$53,150$

adjusted gross income $=$$$53,150$ and taxable income $=$$$44,750$

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