Rebecca and Steve have adjusted gross incomes of $48,900 and $32,500, respectively. Assume that each person takes one exemption and the standard deduction Answer parts (a) through (c) below Tax Rate Single Marned Hiling Jointly up to $30,250 up to $37.850 up to $183,250 up to $72,600 up to $140.400 50100 Deduction a. Calculate the tax owed by the couple if they delay their marriage until next year so they can each file a tax return at the single tax rate this year The couple owes S (Simplify your answer. Round to the nearest dollar as needed.) b. Calculate the tax owed by the couple if they marry before the end of the year and file a joint return The couple owes (Simplify your answer. Round to the nearest dollar as needed.) c. Does the couple face a marriage penalty if they marry before the end of the Yes O No The expenses and income of an individual are given in table form to the right. Find the net monthly cash flow it could be positive or negative). Assume salaries and wages are after faces when you need to convert between weeks and months, assume that 1 month - 4 weeks income Part-time job $400 / month college fund from grandparents $400/month Scholarship: $6600/year . R ent 5500/month Groceries: S40/week Tuition and fees: 52400 twice a y Incidentals: $90/week The net monthly cash flow is - Determine how much the following individual will save in taxes with the specified tax credits or deductions Rosa is in the 10% tax bracket and itemizes her deductions. How much will her tax bill be reduced if she makes a $1200 contribution to charity? Her tax bill will be reduced by S (Simplify your answer.)