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Use the marginal tax rates in the table below to compute the tax owed in the following situation. Paul is a head of household with

Use the marginal tax rates in the table below to compute the tax owed in the following situation. Paul is a head of household with a taxable income of $127,000. He is entitled to

a $6000 tax credit. The taxes owed are ____?

Tax Rate

Head of Household

10%

up to $13,350

15%

up to $50,800

25%

up to $131,200

28%

up to $212,500

33%

up to $416,700

35%

up to $444,550

39.6%

above $444,550

Standard deduction

$9350

Exemption

(per person)

$4050

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