Mike and Julie Bedard are a working couple. They will file a joint return. For the taxable year, they have the following income:
$285,000 from wages and salaries.
$3,000 in interest income
$5,000 in dividend income
$6,000 profit from sale of a stock they purchased two years ago.
$2,000 loss from sale of a stock they purchased six months ago.This must be applied to any capital gains first.
From the information above, calculate the total tax owed.