roblem. Refer to the table if necessary. arginal Tax Rates, Standard Deductions, and Exemptions" solve the Married Filing Jointly up to $17,850 Married Filing Head of Single Tax Rate 10% 15% 25% 28% 33% 35% 39.6% standard SeparatelyHousehold up to $12,750 up to $8,925 up to $36,250 up to $72500 up to $36,250 up to up to $87,850 up to $146,400 up to $73,200 upto $125,450 up to $183,250 up to $223,050 up to $111,525 up to $203,150 up to $398,350 up to $398,350 up to $199,175 up to $398,350 up to $400,000 up to $450,000 up to $225,000 up to $425,000 above $400,000 above $450,000 above $225,000 above $425,000 $6100 up to $8925 $12,200 $6100 $8950 deduction 3900 S3900 $3900 $3900 (per person) Each higher marginal rate begins where the prior one leaves marginal rate affects income starting at S8925, which is where the 10% rate leaves off, and continuing up to $36,250 "This table ignores the effects of (0 exemption and deduction phase-outs that apply to high-income tax- payers and (il) the alternative minimum tax (AMT) that affects many middle- and high-income taxpayers off. For example, for a single person, the 15% 10) Jeff earned wages of $48,267, received $1837 in interest from a savings account, and contributed$ 3210 to a tax deferred retirement plan. He was entitled to a personal exemption of $3900 and had deductions totaling $7314. Find his taxable income. C) $60,628 D) $35,680 B) $53,314 A) $43,480 Solve. 11) Mike and Carrie are in the 25% marginal tax bracket and claim the standard deduction. How muc will their tax bill be reduced if they qualify for a $830 tax credit? C) $500.00 D) $232.40 B) $1062.40 A) $830