Pat and Sam have a combined gross income of $68,550. Every month Pat contributes $245 to his tax-deferred IRA and his employer withholds $650 in health insurance premiums for his family. Meanwhile, Sam's employer withholds $200 per month for a childcare flex spending account. Since they are married and file jointly, they qualify for a standard deduction of $24,000.

Based on this information, what is their taxable income?