Standard deduction for married couples filing jointly: $24,000 Quantitative Problem: Jenna is a single taxpayer. During 2018, she earned wages of S116,000. She doesn't itemize deductions, so she will take the standard deduction to calculate 2015 taxable income. In addition, during the year she sold common stock that she had owned for five years for a net profit of 57,200, How much does Jenna owe to the IRS for taxes? Do not round intermediate calculations, Round your answer to the nearest cent Corporate Corporations earn most of their income from operations; however, they may also receive Interest and dividend income. Select Income is taxed as ordinary incomes however, select Income is taxed more favorably, 50% of Great received is excluded from taxable income, while the remaining 50% is taxed at the ordinary tax rate For businesses Select payments are regarded as an expense so they are tax deductible; however, Select payments are not tax deductible. Contequently, our tax system encourages hele v financing over hec w financing Depreciation expense is tax deductible, to the larger the depreciation, the Select the taxable income, the Select the taxes, and the elec the firm's operating cash flow. Quantitative Problem: Andrews Corporation has income from operations of s231,000. In addition, it received interest income of $23,400 and received dividend income of $32.100 from another corporation, Finally, it paid $9,900 of interest income to its bondholders and paid $44,100 of dividends to its common stockholders. The firm's federal tax rate is 21%. What is the firm's federal income tax? Do not found intermediate calculations. Round your answer to the nearest dollar. $