In: Advanced Math
Gabriella and Steve have adjusted gross incomes of $47 comma 200 and $32 comma 700, respectively. Assume that each person takes one exemption and the standard deduction. Answer parts (a) through (c) below.
| 
 Tax Rate  | 
 Single  | 
 Married Filing Jointly  | 
|---|---|---|
| 
 10%  | 
 up to $8,925  | 
 up to $17,850  | 
| 
 15%  | 
 up to $36,250  | 
 up to $72,500  | 
| 
 25%  | 
 up to $87,850  | 
 up to $146,400  | 
| 
 28%  | 
 up to $183,250  | 
 up to $223,050  | 
| 
 Standard Deduction  | 
 $6100  | 
 $12,200  | 
| 
 Exemptions (per person)  | 
 $3900  | 
 $3900  | 
a. Calculate the tax owed by the couple if they delay their marriage until next year so they can each file a tax return at the single tax rate this year.
The couple owes ______
(Simplify your answer. Round to the nearest dollar as needed.)
b. Calculate the tax owed by the couple if they marry before the end of the year and file a joint return.
The couple owes____________
(Simplify your answer. Round to the nearest dollar as needed.)
c. Does the couple face a "marriage penalty" if they marry before the end of the year?