work 8/8 answe You determined the following tax information for yourself: Gross Salary: $160,000 Interest Earned: $2,000 IRA Contribution: $5,000 Standard Deduction: $12,400 Filing Single, calculate your taxable income and tax liability. Taxable Income: Type your answer here O Please type your answer to submit Tax Liability: Type your answer here 0 Please type your answer to submit Round to the nearest cent. DO NOT INCLUDE COMMAS ORS. 8/8 answered Tax owed Taxable income bracket Tax rate 10% of taxable income $0 to $9,875 10% $9,876 to $40,125 $987.50 plus 12% of the amount over $9,875 12% $40,126 to $85.525 22% $4,617.50 plus 22% of the amount over $40.125 $85.526 to $163,300 24% $14,605.50 plus 24% of the amount over $85.525 $163,301 to $207,350 32% $33.271.50 plus 32% of the amount over $163,300 $207,351 to $518, 100 35% $17,367 50 plus 35% of the amount over $207,350 $518,401 or more 37% $156,235 plus 37% of the amount over $518.400