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hoa [83]
3 years ago
9

Mike has an adjusted gross income of $85,643. He claims two exemptions and can deduct $896 for state income tax, $2,145 for char

itable donations, and $3,473 for medical expenses. If the standard deduction is $5,700 and exemptions are each worth $3,650, what is Mike’s total taxable income? a. $72,643 b. $75,479 c. $71,829 d. $66,129
Mathematics
2 answers:
Sergio039 [100]3 years ago
6 0

The real answer is C. $71,829. Just took the engenuity test.

damaskus [11]3 years ago
3 0
The gross income is $85,463
Here are the deduction before tax is applied:
<span>$896 - income
</span>$2,145 - charitable donations
<span>$3,473 - medical expenses
2 x </span><span>$3,650 - exemptions

Adding all the deductions:
</span>$896 + $2,145 + $3,473 + 2 x $3,650 = $13,814

Subtracting this from the gross income:
$85,463 - $13,814 = $66,129
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