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Use the 2 0 1 6 marginal tax rates to compute the tax owed by the following couple. A married couple filing jointly with a

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Use the 2016 marginal tax rates to compute the tax owed by the following couple.
A married couple filing jointly with a taxable income of $254,000 and a $7500 tax credit
(i) Click the icon to view the 2016 marginal tax rates.
The tax owed is ?
(Type an integer or a decimal. Round to the nearest cent as needed.)
2016 Marginal Tax Rates
\table[[2016 Marginal Tax Rates, Standard Deductions, and Exemptions Unmarried and paying],[,\table[[Unmarried, divorced,],[or legally separated]],\table[[Married and each partner],[files a separate tax return]],\table[[Married and both],[partners file a single],[tax return]],\table[[Unmarried and paying],[more than half the cost],[of supporting a child],[or parent]]],[Tax Rate,Single,Married Filing Separately,Married Filing Jointly,Head of Household],[10%,up to $9275,up to $9275,up to $18,550,up to $13,250
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