Answer
${$37,500}$
Work Step by Step
Your taxable income from the last step is ${$46,000}$
Now, we can subtract another ${$8500}$ from that amount to account for the standard deduction, which brings your taxable income down to ${$37,500}$.
Economics: Principles, Problems, and Policies, 19th Edition
by McConnell, Campbell R.; Brue, Stanley L.; Flynn, Sean M.
Published by
McGraw-Hill Education
ISBN 10:
0073511447
ISBN 13:
978-0-07351-144-3
Chapter 16 - Public Finance: Expenditures and Taxes - Problems - Page 356: 3d
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