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Sophia calculated her 2015 taxable income to be $121,350. Using the 2015 federal income tax brackets and rates, how much federal income tax should she report? Taxable Income (Income tax brackets) Tax Rates $44 701 or less 15% of taxable income less than or equal to $44,701, plus $44 701 to $89, 401 22% of taxable income greater than $44,701 and less than or equal to $89,401; plus $89 401 to $138 586 26% of taxable income greater than $89,401 and less than or equal to $138,586, plus Over $138 586 29% of taxable income greater than $138,586 Sophia should report a federal income tax of $ (Round to the nearest cent as needed.)