Mathematics

Martha Huber

28 March, 11:59

John and Loretta Smith are in the 28% tax bracket. Their joint taxable income is $134,899. If the first $16,050 is taxed at 10%, with the remainder at 28%, how much tax will they owe?

A: $38,724.75

B: $30,271.75

C: $29,371.72

D: $34,882.72

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