Mr. and Mrs. Liddy, ages 39 and 41, file a joint return and have no dependents for the year. Here is their relevant information. 
Compute their adjusted gross income (AGI) and taxable income.
A) AGI $50,200; taxable income $30,700
B) AGI $52,000; taxable income $32,500
C) AGI $52,000; taxable income $30,700
D) AGI $50,200; taxable income $39,400
Correct Answer:
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