Barney Smith's contribution of $4,400 to his church can potentially save him some money on his taxes.
To determine how much he will save, we need to compare the amount of his itemized deduction to his standard deduction.
In this case, Barney's standard deduction is $6,200. Since his itemized deduction of $4,400 is less than his standard deduction, it would be more beneficial for him to take the standard deduction instead.
By taking the standard deduction, Barney's taxable income will be reduced by $6,200. Since he is in the 15% marginal tax bracket, this means that his tax savings will be 15% of $6,200.
To calculate this, we can multiply $6,200 by 15%:
$6,200 x 0.15 = $930
Therefore, Barney's contribution to the church will save him $930 in taxes this year.
None of the given options match the correct answer. The correct answer is
$930. !!