The Lindscomb family had the following income in 2012:

Salaries:	Mark	$65,500
	Ashley	52,600

Interest on investments:

IBM bonds		$4,750
New York City bond		1,400
Savings account		2,600

The family made home mortgage payments that included interest of $16,480, and paid real estate (property) tax of $4,320 on the home. They also paid state income tax of $5,860 and donated $1,250 to well-known charities. The Lindscombs have three dependent children. The exemption rate is $3,650 per person. Use Personal Tax Schedules given below.

Single Individuals			Married Couples Filing Jointly
Income ($)	Rate (%)		Income ($)	Rate (%)
0-8,700	10		0-17,400	10
8,700-35,350	15		17,400-70,700	15
35,350-85,650	25		70,700-142,700	25
85,650-178,650	28		142,700-217,450	28
178,650-388,350	33		217,450-388,350	33
Over 388,350	35		Over 388,350	35

Calculate the family's federally taxable income. $

What is their tax liability assuming they file jointly as a married couple? Round the answer to the nearest cent. $

What is the average tax rate? Round the answer to 2 decimal places. What is the marginal tax rate?