Use the marginal tax rate chart to answer the question.
Marginal Tax Rate Chart
Tax Bracket
Marginal Tax Rate
$0-$10,275
10%
$10.276-$41.175
12%
$41.176-$89.075
22%
$89,076-$170.050 24%
$170,051-$215,950 32%
$215,951-$539,900 35%
$539,901
37%
Determine the amount of taxes owed on a taxable income of $49,652.
Answer choices
$4,735.38
$6,600.44
$7,709.92
$10,293.44