Solve the Problem $15 \%$ Marginal Rate Affects Income Starting At $\$ 8925$

question 225

Multiple Choice

Solve the problem. Refer to the table if necessary. 2013 Marginal Tax Rates, Standard Deductlons, and Exemptlons**


- Each higher marginal rate begins where the prior one leaves off. For example, for a single person, the $15 \%$ marginal rate affects income starting at $\$ 8925$ , which is where the $10 \%$ rate leaves off, and continuing up to $\$ 36,250$ .
" This table ignores the effects of (i) exemption and deduction phase-outs that apply to high-income taxpayers and (ii) the alternative minimum tax (AMT) that affects many middle- and high-income taxpayers.
-Kevin is married, but he and his wife filed separately. His gross salary was $37,967, and he earned $448 in interest. He had $1141 in itemized deductions and claimed three exemptions for himself
And two children. Find his taxable income.

• A)$27,274
• B)$28,415
• C)$19,474
• D)$20,615

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