The Lindscomb family had the following income in 2015:

Salaries:	Mark	$68,500
	Ashley	55,200

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 their 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 $4,000 per person. Use Personal Tax Schedules given below.

Single Individuals			Married Couples Filing Jointly
Income ($)	Rate (%)		Income ($)	Rate (%)
0-9,225	10		0-18,450	10
9,225-37,450	15		18,450-74,900	15
37,450-90,750	25		74,900-151,200	25
90,750-189,300	28		151,200-230,450	28
189,300-411,500	33		230,450-411,500	33
411,500-413,200	35		411,500-464,850	35
Over 413,200	39.6		Over 464,850	39.6

1. Calculate the family's federally taxable income. $
2. What is their tax liability assuming they file jointly as a married couple? Round the answer to the nearest cent. $
3. What is the average tax rate? Round the answer to 2 decimal places. What is the marginal tax rate?