Ross's taxable income is $3,079.16. Option C is the correct answer.
Here's the breakdown of the calculation:
Monthly paycheck: $3,500.30
Withholding allowances (3 allowances x $205.00/allowance): $615.00
Taxable income: $3,500.30 - $615.00 = $2,885.30
Federal income tax (12% bracket): $2,885.30 x 0.12 = $346.24
Total income tax: $346.24
Therefore, Ross's taxable income is $3,079.16. Option C is the correct answer.
Complete question:
Cross receives a monthly paycheck from a bakery plant of $3,500.30. She is married and is entitled to 3 withholding allowances. How much is her taxable income? Use the percentage method tables in Exhibits 9-1 and 9-2 from your text
in Business
A) $2,512.70
B) $3,044.06
C) $3,079.16
D) $3,289.73