1. The smith family had the following income in 2019:

   Salaries:	Bob	$66,500
   	Kevin	54,800

   Interest on investments:

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

   The family also sold Glaxo-Kline stock they owned for 8 months for a profit of $2,000 and they also sold Johnson & Johnson stock they had owned for 5 years for a profit of $5,000. 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. There are 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

   The family's TOTAL income is No decimal places

   The family's Total Deductions No decimal places

   The family's Total Exemptions No decimal places

   The family's taxable income is No decimal places

   The family's tax liability is No decimal places

   Their marginal rate is No decimal places, use % sign

   Their average rate is Have 2 decimal places and % sign.