Question

Jeffrey earned a gross income of $51,280 last year. He made $1,746.83 in student loan interest deductions, donated $2,914 to his favorite charities and paid $3,941.47 in home mortgage interest. Jeffrey claims a standard deduction of $11,400 for himself and his non-working spouse. If their exemption is $7,300, what is their taxable income?

$26,891.70

$23,977.70

$35,377.70

$30,833.17