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. $29,371.72
B. $30,271.75
C. $34,882.72
D. $38,724.75
Answer: C
Mathematics
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