Leonardo, Who Is Married but Files Separately, Earns $62,000 of Taxable

Multiple Choice

Leonardo, who is married but files separately, earns $62,000 of taxable income. He also has $16,000 in city of Tulsa bonds. His wife, Theresa, earns $51,000 of taxable income. How much money would Leonardo and Theresa save if they file jointly instead of separately for 2020? (Use tax rate schedule.)

A) Nothing
B) $132.00
C) $395.25
D) $9,840.00
E) None of the choices are correct