Answer:
Without the adjusted gross income, it's not possible to determine the taxes owed, as the taxable income cannot be calculated. The correct answer is 'cannot be determined'.
Step-by-step explanation:
Understanding Taxable Income and Taxes Owed
To calculate the amount of taxes owed by an individual, one must first determine their taxable income. This is done by subtracting the sum of the standard deduction and any exemptions from the individual's adjusted gross income. In the student's question, they mention a standard deduction of $5,700 and an exemption of $3,650. However, the question does not provide the individual's adjusted gross income, which is a crucial piece of information needed to calculate their taxable income and thus, their taxes owed.
Once the taxable income is known, one would use the tax brackets to calculate the taxes owed. The example provided in the question shows a formula for calculating the taxes owed if the taxable income were $20,000. However, without the adjusted gross income for the individual in the student's question, it is not possible to use this formula accurately.
The correct answer to the student's question is cannot be determined due to lack of necessary information.