Jeffrey earned a gross income of $51,280 last year. He made $1,746.83 in student loan interest deductions, donated $2,914 to his favorite charities and paid $3,941.47 in home mortgage interest. Jeffrey claims a standard deduction of $11,400 for himself and his non-working spouse. If their exemption is $7,300, what is their taxable income?

26,891.70

$23,977.70

$35,377.70

$30,833.17

my answer is d

To find the taxable income, we need to subtract the deductions from the gross income.

First, let's calculate the total deductions:
Student loan interest deductions: $1,746.83
Donations to favorite charities: $2,914
Home mortgage interest: $3,941.47
Standard deduction: $11,400
Exemption: $7,300

Total deductions = $1,746.83 + $2,914 + $3,941.47 + $11,400 + $7,300 = $27,301.3

Now, subtract the total deductions from the gross income:
Taxable income = $51,280 - $27,301.3 = $23,978.7

Therefore, the correct answer is option B, $23,977.70.