Final answer:
Monica Mooney earns $63,840 annually. Her personal exemptions can be calculated by dividing her annual income by the federal personal exemption amount.
Step-by-step explanation:
Monica Mooney earns $63,840 annually. To calculate her personal exemptions, we first need to know the federal personal exemption amount. For the 2021 tax year, the federal personal exemption amount is $4,300. To find Monica's personal exemptions, we divide her annual income by the federal personal exemption amount.:
$63,840 รท $4,300 = 14.8604651
Rounded to the nearest whole number, Monica has 15 personal exemptions.