TABLE 1.2: Federal Income Tax Rates and Brackets for Individual Returns (2018)
Tax Rates		Taxable Income	Taxes
10.0%		$0 to $9,875	10% of taxable income
12.0%		$9,876 to $40,125	$987.50, plus 12% of the amount over $9,876
22.0%		$40,126 to $85,525	$4,617.50, plus 22% of the amount over $40,126
24.0%		$85,526 to $163,300	$14,605.50, plus 24% of the amount over $85,526
32.0%		$163,301 to $207,350	$33,271.50, plus 32% of the amount over $163,301
35.0%		$207,351 to $518,400	$47,367.50, plus 35% of the amount over $207,351
37.0%		Over $518,401	$156,235.50, plus 37% of the amount over $518,401

TABLE 1.2: Tax Rates and Income Brackets for Joint Returns (2018)
	Taxable Income
Tax Rates	Joint Returns
10%	$0 to $19,750
12%	$19,751 to $80,250
22%	$80,251 to $171,050
24%	$171,051 to $326,600
32%	$326,601 to $414,700
35%	$414,701 to $622,050
37%	Over $622,050

Kim and Kayne have been dating for years and are now thinking about getting married. As a financially sophisticated couple, they want to think through the tax implications of their potential union. a. Suppose Kim and Kanye both earn $72,000 (so their combined income is $144,000). Using the tax bracket information 6, calculate the combined tax bill that they would pay if they remain single, and compare that to the taxes they would pay if they were married and filed a joint return. b. Now suppose that Kim and Kanye both earn $398,000 (so their combined income is $796,000). Calculate the combined tax bill that they would pay if they remain single, and compare that to the taxes that they would pay if they were married and filed a joint return. c. What differences do you find in parts (a) and (b)? What is the cause of these differences? a. If Kim and Kayne remain single, their total tax bill will be $ (Round to the nearest cent.)