Problem 1-42 (LO 1-4) Havel and Petra are married and will file a joint tax return. Havel has W-2 income of $38,672, and Petra has W-2 income of $49,468. Use the appropriate Tax Tables and Tax Rate Schedules. Required: a. What is their tax liability using the Tax Tables? b. What is their tax liability using the Tax Rate Schedule? (Round your intermediate computations and final answer to 2 decimal places.) a. Tax liability using Tax Tables Tax liability using Tax Rate Schedule b $ 7,969.80 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: $0 $ 19,750 $ 80,250 $ 171,050 $ 326,600 $ 414,700 $ 622,050 But not over: $ 19,750 $ 80,250 $ 171,050 $ 326,600 $ 414,700 $ 622,050 The tax is: 10% of taxable income $1,975.00 plus 12% of the excess over $19,750 $9,235.00 plus 22% of the excess over $80,250 $29,211.00 plus 24% of the excess over $171,050 $66,543.00 plus 32% of the excess over $326,600 $94,735.00 plus 35% of the excess over $414,700 $167,307.50 plus 37% of the excess over $622,050 6.550 6.600 66.650 6.700 10,426 0.437 10.448 10.459 10.470 7.588 7.594 7.600 7606 7.612 6.984 6.995 9.006 9.017 9.028 69.500 69,550 69,600 69.650 69.700 9,550 69.600 69.650 69.700 69,750 11.06 11.097 11.108 11.119 11.10 7948 7,954 7.960 7.96 7972 11.06 11.097 11.108 11.119 11.130 9.644 9.655 9.666 9677 9.668 72.500 72.550 72.600 72.650 72.700 72.550 72,600 72,650 72.700 72,750 11746 11757 11.78 11.279 11.790 6.308 314 18.320 8.326 8.332 11.76 11757 11.768 11.779 11.790 10.304 0.315 10.326 10.337 10.348 6,750 66.500 66,550 66,600 66.650 66.700 66.750 6.600 66.850 66,900 66.950 10.426 10.437 10.448 10.459 10.470 10.481 10.492 10.503 10.514 10.525 66.600 66,850 66.900 6.950 67,000 10.461 10.492 10,503 10.514 10.525 7.618 7.624 7.630 7.636 7.642 9.039 9050 9.06] 9.072 9.063 69.750 69,800 69.850 69,900 69.950 69,800 69,850 69.900 69.950 70.000 11.141 1112 11 13 11.174 11 185 7976 7.984 7990 7.996 8002 11.14 11 152 11.163 11.174 11.165 9.699 9.710 9.721 9.732 9.73 72.750 72.00 72.850 72.900 72.950 72 600 72,850 72,900 72,950 73.000 11.801 11.012 11823 11.834 11.345 8338 6.344 8350 6.356 8362 11.01 11.612 11.823 11.834 11.45 10.359 10.370 10.38] 10.392 10403 67,000 70,000 73,000 10.536 10.547 10.556 10.569 10.560 11.19% 11207 11.216 11.29 11.240 9.754 9.765 9.776 9787 9.798 10.414 10.425 10.436 10.447 10.458 67.000 67.050 67.100 67.150 67.200 67,250 67.300 67.350 67.400 67.450 10,506 10.47 10.566 10.569 10,580 10.591 10.602 10.613 10,624 10.635 9.004 9.105 9.116 9.127 9.138 9.149 9.10 917 9.12 9.193 7,648 7.654 7.660 7.666 7,672 7.678 7,684 7,690 7,696 7.702 7.706 7714 7.720 7726 7.732 7736 70.000 70.050 70.100 70.150 70.200 70.250 70.300 70.350 70.400 70.450 8.008 2014 8020 8026 8032 8038 8044 6,050 8.056 6.062 11.196 11.207 11.216 1129 11.240 11.25 11 262 11.273 11 284 11205 73.050 73.100 73.150 73.200 73.250 73.300 73.350 73.400 73.450 73.500 10.469 6.368 6.374 8.360 8.386 8.392 6.394 8.404 8.410 6.416 6.422 11.251 11 262 11.273 11.284 11 295 67,050 7.100 67.150 67,200 67,250 67.300 7350 67.400 67.450 67.500 67.550 67.600 57,650 67.700 67.750 67,600 67,850 67.900 67.950 66.000 10.480 10.491 10502 10.513 70,050 70.100 70.150 70.200 70,250 70.300 70.350 70.400 70.450 70,500 70,550 70,600 70,650 70,700 70.750 70.600 70,850 70.900 70.950 71.000 11.456 11.867 11.876 11.889 11,900 11.911 11.922 11.933 11944 11965 11.966 11977 11.99 11.999 12010 10.591 10602 10.63 10.24 10.635 10.646 10.657 10.668 10.679 10.600 10.701 10.712 10.723 10.734 10.745 73,000 73.050 73.100 73.150 73.200 73.250 73.300 73.350 73.400 73.450 73.500 73.550 73.600 73.650 73.700 73.750 73.600 73.650 73.900 73.950 10.646 10,657 10.666 10.679 10,690 11.856 11.86/ 11878 11.889 11.900 11.911 11922 11933 11.944 11.955 11.96 11.977 11.98 11.999 12.010 12.021 12.032 12.03 12.054 1206 9204 9215 9.226 9.237 9248 70.500 70.550 70,600 70.650 70.700 8.068 6.074 6,060 8.086 8.002 909 9820 9.831 9.842 9.853 9.864 9.875 9.666 9.997 9.908 9919 9.930 9.94] 9.952 9963 11306 11.317 11.328 11.339 11.30 67.500 67.550 67,600 67.650 67700 67,750 67,600 67.650 67.900 67.950 8.426 6.434 6.440 6.446 8.452 10.524 10.535 10.56 10.55/ 10.568 11.306 11.317 11.326 11.339 11.360 11.361 11.372 11.383 11.394 11.405 73.550 73,600 73.650 73.700 73.750 73,000 73.850 73.900 73.950 74.000 929 6.096 10.579 7.74 9.20 10.590 10.701 10.712 10,723 10.734 10.745 7.750 7.7566 7762 9281 9202 9303 70.750 70.800 70.850 70.900 70.950 9.104 4.110 8116 8.122 11.361 11.372 11.383 11,304 11.405 12021 12.032 12.043 12.054 12.065 8.456 6.464 6.470 6.476 6.462 10.60] 10.612 10.623 68,000 71,000 74,000 10.756 10.767 10.776 10.789 10,800 10.756 10.767 10.778 10.79 10.000 9314 9.325 9.136 934 9.358 11.16 11.427 11.48 11.449 11.40 6.126 8.134 0.140 9.146 6. 152 11.476 11.427 1,438 11,449 11.460 9.974 9.965 9.996 1000/ 10.016 74.050 74.100 74.150 74.200 74.250 12.076 12.067 12.09 12.100 12.120 6.466 8.494 6.500 8.506 6.512 12.076 12.067 12.0% 12.109 12.120 10.634 10.6MB 10.656 10.667 10.676 60.050 66.100 66.150 66,200 66.250 66,300 66.350 66.400 66,450 66,500 71.000 71,050 71.100 71.150 71.200 71.250 71.300 71,350 71.400 71.450 10.311 10.822 10,833 10,844 10.46 9.369 9.380 9.391 9.402 9.413 11.471 11.42 11.493 11.50 11.31 4.150 8.164 6.170 6.176 6.12 11.47] 11.462 11.493 11.504 11.51 12.131 12.142 12.153 12.16 12.175 6.516 8.524 8.530 6.536 6.542 10.69 10.700 10.711 10.722 10730 66,000 66,050 60 100 66.150 6 200 66.250 66.300 | 66.350 66.400 66.450 6,500 66.550 66,600 66,650 6.700 66.750 66.600 66.650 66.900 66.950 7768 7774 7.780 7766 7.792 7798 7804 7.810 7.16 7,822 7,026 7.434 7.840 7.846 7.852 7.056 7.36 7.870 7,876 7.62 10.611 10.822 10.633 10.044 10.855 10.666 10.77 10.068 10.99 10.910 71.050 71.100 71.150 71,200 71.250 71 300 71.350 71.400 71.450 71,500 71.550 71.600 71.650 71 700 71.750 71,800 71,850 71.900 71,950 72,000 74.000 74,050 74.100 74.150 74.200 74.250 74.300 74.350 74.400 74.450 74.500 74.550 74,600 74.650 74.700 74 750 74,800 74.650 74.900 74.950 11.526 11.537 11.546 11.559 11.570 66.550 6.600 6.650 69 700 66.750 6,000 66.650 40.900 66.950 69,000 10,866 10.377 106 10.899 10,910 10.92] 10,932 10.943 10,964 10.965 9.424 9.435 9.446 9.457 9.468 9.479 9.490 9.50] 9.512 9.523 71.500 71.550 71,600 71.650 71 700 71.750 71,800 71.850 71,900 71.950 8.168 8.194 6 200 6. 206 8.212 4.218 6224 230 6.236 6242 10.029 10.040 10.05] 10.062 10.073 1008 10.095 10 106 10.117 10.126 10.139 10.150 10.161 10.172 10.163 11.26 11537 1,548 11.559 11.570 11.561 11.02 T1603 11.614 11.625 74.300 74.350 74.400 74.450 74.500 74.550 74.600 74.650 74.700 74,750 74.000 74,450 74,000 74.950 75,000 12.166 12.197 12.206 12.219 12 230 12.241 12.252 12.263 12.274 12 285 6.448 8.554 6.560 8.566 8,572 6.576 8.504 6.500 6.996 6. 602 12.131 12.12 12.153 12.164 12.175 12.16 12.197 12.208 12.219 12.230 12.241 1222 12.260 12.274 12.265 10.744 10.755 10.766 | 10.777 10.788 10.799 10.910 10.82] 10.632 10.843 10.921 10.432 10.943 10.964 10.965 11.561 11.02 11.603 11.614 11.625