Question You earned wages of $46,500, received $790 in interest from a savings account, and contributed $1100 to a tax-deferred savings plan You are entitled to a personal exemption of $4050. The interest on your home mortgage was $7300 and you contributed $350 to charity or there is a standard deduction of $6300 75 points Find your gross income Type your answer 225 points Find your adjusted gross income Type your answer 3 7.5 points Find your taxable income. Base your taxable income on the greater of the standard deduction or an itemized deduction Type your answer Use the table and the information from Question 3 to calculate the federal income tax owed if you are single with no dependents and have no tax credits. TABLE 8.1 2016 Marginal Tax Rates Standard Deductions, and Eventions Berria Movie gely Married purtare Real segle Tax Rate 10% 15% 25% Single up to $9275 $9276 to $37.50 $37.651 to $91.150 $91.151 to 5190,150 S190151 to $413-350 S413-351 to $415.00 more than $415050 Married Filing Separately up to $9275 $9276 to $37.650 $37.651 to $75.950 $75.951 to $115.725 $115,726 to $206.675 $206,676 to $236.475 more than $233.475 Married Head of Filing Jointly Houwhold up to $18.550 up to $13.250 SIR 551 to $75.300 $13.251 to $50,400 $75.301 to $151,900 SSO 401 30 SIX.ISO $131.901 to $231.450 SIIS1 to $210.00 5231,451 to 5413,350 $210.80 to $413.350 $413.351 to $166,950 $413.351 to $441.00 more than $466.950 more than $441.000 35% 39.6% Standard Deduction Exemptions (per person) $6300 S600 59300 512,600 $4050 $4050 5050 $4050