Mr. and Mrs. David file a joint tax return. They have $169,300 taxable income in 2019, $120,300 of which is ordinary income and $49,000 of which is taxed at a 15% preferential rate. Compute their tax savings from the preferential rate.
A. $10,798
B. $7,032
C. $3,448
D. None of the above.
Answer: C
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