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The Progressive Tax System: Fran would like to know how much tax she and her husband will owe the Federal Government this year. The couple's

The Progressive Tax System: Fran would like to know how much tax she and her husband will owe the Federal Government this year. The couple's combined income is $375,000. Use the tax rates below.
The first $20,000 of income (between $0 and $20,000)
The next $60,000 of income (between $20,000 and $80,000)
The next $85,000 of income (between $80,000 and $165,000)
The next $150,000 of income (between $165,000 and $315,000)
The next $85,000 of income (between $315,000 and $400,000)
The next $200,000 of income (between $400,000 and $600,000)
All additional income over $600,000
Tax Rate =10%
Tax Rate =12%
Tax Rate =22%
Tax Rate =24%
Tax Rate =32%
Tax Rate =35%
Tax Rate =37%
A. $63,900
B. $77,776
C. $83,100
D. $94,600
E. $143,500
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