Use the marginal tax rates in the table below to compute the tax owed in the following situation. Winona and Jim are married filing jointly, with a taxable income of $295,000. They are entitled to a $7000 tax credit. The tax owed is $ (Type an integer or a decimal) Tax Rate 10% 15% 25% 28% 33% 35% Married Filing Jointly up to $18,650 up to $75,900 up to $153,100 up to $233,350 up to $416,700 up to $470,700 above $470,700 $12,700 $4050 39.6% Standard deduction Exemption Kper person)