Final answer:
An accurate estimation of a married couple's taxable income based on a tax payment of $7,408 requires the current tax rate schedule. An example using a tax formula illustrates the calculation process, but without the actual tax year's schedule, only a general estimate can be made.
Step-by-step explanation:
To estimate the married couple's approximate taxable income based on their tax payment of roughly $7,408, one would need to reference the federal income tax brackets and rate schedules. However, without the exact tax year or relevant tax bracket information, it is challenging to provide a precise taxable income figure as tax rates and brackets change over time.
Given the provided information, we can look at an example to understand how the taxable income might be estimated. If we have a tax schedule where the calculation is $837.50 + 0.15 × (taxable income - $8,375), and we know that the couple paid $2,581.25, we could set up the equation $2,581.25 = $837.50 + 0.15 × (taxable income - $8,375) to solve for their taxable income. However, with the amount paid at $7,408, this seems suggestive of a higher taxable income bracket.
Without being able to reference a specific tax schedule, we would have to generalize by stating that the couple likely falls into a middle-income bracket based on contemporary tax rates, but for an accurate determination, you would need to consult the current tax tables provided by the IRS for that exact tax year.