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 $256,000 and a $7500 tax credit iClick 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 Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard Deduction 2016 Marginal Tax Rates, Standard Deductions, and Exemptions Unmarried, divorced, Married and each partner Married and both or legally separated files a separate tax return partners file a single tax return Single up to $9275 $9276 to $37.650 $37,651 to $91,150 $91.151 to $190,150 $190.151 to $413,350 $413,351 to $415,050 more than $415,050 $6300 Exemptions (per $4050 person) Married Filing Separately Married Filing Jointly up to $9275 $9276 to $37,650 $37,651 to $75,950 $75,951 to $115,725 $115,726 to $206,675 $206,676 to $233,475 more than $233,475 $6300 up to $18,550 $18,551 to $75,300 $75,301 to $151,900 $151,901 to $231,450 $231,451 to $413,350 $413,351 to $466,950 more than $466,950 $12,600 $4050 $4050 Unmarried and paying more than half the cost of supporting a child or parent Head of Household up to $13,250 $13,251 to $50,400 $50,401 to $130,150 $130,151 to $210,800 $210,801 to $413,350 $413,351 to $441,000 $441,000 more $9300 $4050 1

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