What is Veronica's Taxable Income for 2011? Assume she is single and will claim TWO dependent children, Geirson and Stephanie. Assume further that Veronica's 2011 Adjusted Gross Income ("AGI") is $70,000 and that she has itemized deductions of $10,000.
a. $70,000
b. $52,600
c. $51,500
d. $48,900