Using table 7.3, calculate the tax liability for a married taxpayer filing a joint return with a taxable income of $32,500. (Round your final answer to the nearest cent.) $ ====== 2016 Tax Rate Schedules Caution. Do not use these Tax Rate Schedules to figure your 2015 taxes. Use only to figure your 2016 estimated taxes. Schedule XUse if your 2016 filing status is Schedule 2Use if your 2016 filing status is Single Head of household If line 5 If line 5 is: is: The tax is: The tax is: of the of the But not amount But not amount Over- over- over- Over over- over- $0 $9,275 + 10% $0 $0 $13,250 + 10% $0 9,275 37,650 $927.50 + 15% 9,275 13,250 50,400 $1,325.00 + 15% 13,250 37,650 91,150 5,183.75 + 25% 37,650 50,400 130,150 6,897.50 + 25% 50,400 91,150 190,150 18,558.75 + 28% 91,150 130,150 210,800 26,835.00 + 28% 130,150 190,150 413,350 46,278.75 + 33% 190,150 210,800 413,350 49,417.00 + 33% 210,800 413,350 415,050 119,934.75 + 35% 413,350 413,350 441,000 116,258.50 + 35% 413,350 415,050 120,529.75 + 39.6% 415,050 441,000 125,936.00 + 39.6% 441,000 Schedule Y-1 Use if your 2016 filing status is Schedule Y-2Use if your 2016 filing status is Married filing jointly or Qualifying widow(er) Married filing separately If line 5 The tax is: If line 5 The tax is: is: is: of the of the But not amount But not amount Over over- over Over- $0 $18,550 + 10% $0 $0 $9,275 + 10% $0 18,550 75,300 $1,855.00 + 15% 18,550 9,275 37,650 $927.50 + 15% 9,275 75,300 151,900 10,367.50 + 25% 75,300 37,650 75,950 5,183.75 + 25% 37,650 151,900 231,450 29,517.50 + 28% 151,900 75,950 115,725 14,758.75 + 28% 75,950 231,450 413,350 51,791.50 + 33% 231,450 115,725 206,675 25,895.75 + 33% 115,725 413,350 466,950 111,818.50 + 35% 413,350 206,675 233,475 55,909.25 + 35% 206,675 466,950 130,578.50 + 39.6% 466,950 233,475 65,289.25 + 39.6% 233,475 over- over