Use the marginal tax rate chart to answer the question.
Marginal Tax Rate Chart
Tax Bracket
Marginal Tax Rate
$0–$10,275
10%
$10,276–$41,175
12%
$41,176–$89,075
22%
$89,076–$170,050
24%
$170,051–$215,950
32%
$215,951–$539,900
35%
> $539,901
37%
Determine the amount of taxes owed on a taxable income of $49,652.
$4,735.38
$6,600.44
$7,709.92
$10,293.44
