Question

2 look at the following tax table and answer the question that follows.

bill and evelyn are married and are filing jointly. bill’s taxable income is $25,120, and evelyn’s taxable income is $23,540 this year. how much will they pay in federal income taxes this year?

options:
○ $6,648
○ $5,460
○ $5,569
○ $6,714

Explanation:

Step1: Calculate Total Taxable Income

Bill's taxable income is $25,120 and Evelyn's is $23,540. Since they are married filing jointly, we add their incomes: $25,120 + $23,540 = $48,660.

Step2: Locate the Tax Bracket

We look at the tax table for "Married filing jointly" and find the row where the taxable income (at least and but less than) includes $48,660. From the table, the bracket for "Married filing jointly" with income at least $48,500 but less than $48,550? Wait, no, wait. Wait, the first table is for 48,000 bracket. Wait, let's check the first table (48,000 section) for Married filing jointly. Wait, the first table's "Married filing jointly" column. Let's list the rows:

Looking at the first table (48,000):

At least 48,000 but less than 48,050: Married filing jointly tax is 5,382? No, wait the rows are:

Wait the first table (48,000) has rows:

48,000 - 48,050: Single: 6,505; Married Jt: 5,382; etc.

48,050 - 48,100: Single: 6,516; Married Jt: 5,388; etc.

...

Wait, our total is $48,660. Let's find the "At least" and "But less than" for Married filing jointly. Wait, the first table is for 48,000, so the "At least" starts at 48,000, and each row is 50 increments? Wait, the first column "At least" and "But less than" for the first table (48,000) has:

48,000 - 48,050

48,050 - 48,100

...

48,500 - 48,550

48,550 - 48,600

48,600 - 48,650

48,650 - 48,700

Wait, our total is $48,660, which is in the row where "At least" is 48,650 and "But less than" is 48,700? Wait no, wait the first table's "But less than" for the last row is 49,000? Wait no, the first table's top says "48,000" and the "But less than" for the last row is 49,000? Wait, looking at the first table's "But less than" column, the last row is 49,000. Wait, the first table's rows:

Wait the first table (48,000) has:

At least 48,000, but less than 48,050: Married filing jointly tax: 5,382? No, wait the numbers in the Married filing jointly column for the first table (48,000 section):

First row (48,000 - 48,050): 5,382

Second row (48,050 - 48,100): 5,388

Third row (48,100 - 48,150): 5,394

Fourth row (48,150 - 48,200): 5,400

Fifth row (48,200 - 48,250): 5,406

...

Continuing, when we reach the row where "At least" is 48,650 and "But less than" is 48,700? Wait, no, let's calculate how many 50-dollar increments from 48,000 to 48,660. 48,660 - 48,000 = 660. 660 / 50 = 13.2. So the 14th row (since starting at 0). Wait, maybe a better way: look at the "Married filing jointly" column in the first table (48,000) and find the row where the "At least" is 48,650? Wait, no, the first table's "At least" starts at 48,000, and each row is +50. So 48,000, 48,050, 48,100, ..., 48,650, 48,700, etc. Our income is 48,660, which is in the bracket "At least 48,650 but less than 48,700"? Wait, no, 48,650 to 48,700. Wait, but the first table's last row shown is 48,950 - 49,000 with Married filing jointly tax 5,496? Wait, no, the first table's last row (48,950 - 49,000) has Married filing jointly tax 5,496. Wait, maybe I made a mistake. Wait, no, the total income is 48,660. Let's check the "Married filing jointly" column in the first table (48,000 section). Let's list the Married filing jointly tax for each row:

Row 1 (48,000 - 48,050): 5,382

Row 2 (48,050 - 48,100): 5,388

Row 3 (48,100 - 48,150): 5,394

Row 4 (48,150 - 48,200): 5,400

Row 5 (48,200 - 48,250): 5,406

Row 6 (48,250 - 48,300): 5,412

Row 7 (48,300 - 48,350): 5,418

Row 8 (48,350 - 48,400): 5,424

Row 9 (48,400 - 48,450): 5,430

Row 10 (48,450 - 48,500): 5,436

Row 11 (48,500 - 48,550): 5,442

Row 12 (48,550 - 48,600): 5,448

Row 13 (48,600 - 48,650): 5,454

Row 14 (48,650 - 48,700): 5,460

Ah! There we go. So 48,660 is in the bracket "At least 48,650 but less than 48,700" for Married filing jointly. The tax for that row (Married filing jointly) is 5,460.

Answer:

\$5,460 (Option B: \$5,460)