### Calculate roys taxable income

##### Reference no: EM13832644

Roy is a single person. He earned \$75,000 last year. Among his expenditures last year were \$10,000 on interest on his home mortgage, \$2,500 payment on the principle of his home loan, \$700 in charitable contributions, and \$392 for food. And the personal exemption is \$3,700.

(a) Calculate Roy’s taxable income.

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