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QUESTION 9 The Titalez family provides the following information regarding their finances. Their total income from their salaries is $85.000 They earned $800 in
QUESTION 9 The Titalez family provides the following information regarding their finances. Their total income from their salaries is $85.000 They earned $800 in interest on their savings account. They paid $6.000 for interest on their mortgage and $5,000 in property taxes They also made 54000 on New York City bon They sold stock in CVS. which they had purchased 5 months ago, for a profit of $3,000. They also earned $2,500 from the sale of Mondelez stock which they bought a years ago. They paid $3,000 to charities. The couple has no children Exemptions are 14,000 each Answer the questions below. 1. What is the family's total taxable income? SHOW WORK for PARTIAL CREDIT A164.300 560.300 C$72.300 $5700 568.300 2. What is the family's total tax liabiny given the brackets below SHOW WORK FOR ARTIAL CRED Bracket 0-120000 $20,000-$60.000 Rate 158 20 $60,000-$120.000 25% over $120,000, 30 A $14.192.50 $14.075.00 C$13.825.00 0. $12.570.50 E514.300.50 3. What is the family's marginal tax rate QIRS
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