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Question 4 • CMS 2026-2027 Economics and Personal Finance CREDIT RECOVERY

Robert and Anne, a married couple filing jointly, have an adjusted gross income of $68,676. They claim two exemptions, and can deduct $3,752 for charitable donations, $3,375 for interest on their mortgage, and $959 from city income tax. If the standard deduction for a married couple filing jointly is $8,350 and exemptions are worth $3,650 apiece, what is their total taxable income?

Answer
A
$53,290
B
$61,640
C
$44,940
D
$53,026
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Robert and Anne, a married couple filing…