Use the 2021 marginal tax rates to compute the income tax owed by the following person.
Filing status: single
Gross income: $\mathrm{\$}86,000$
Adjustments: $\mathrm{\$}7000$
Deductions: $\mathrm{\$}13,500$ mortgage interest $\mathrm{\$}4200$ property taxes $\mathrm{\$}2000$ charitable contributions
Tax credit: none
1. Click the icon to view the 2021 marginal tax rates.
The income tax owed is $\mathrm{\$}◻$.
(Type an integer or a decimal. Round to the nearest cent as needed.)

Step 1 ：Define the gross income, adjustments, and deductions. The gross income is $\mathrm{\$}86,000$, the adjustments are $\mathrm{\$}7,000$, and the deductions are $\mathrm{\$}13,500$ for mortgage interest, $\mathrm{\$}4,200$ for property taxes, and $\mathrm{\$}2,000$ for charitable contributions.

Step 2 ：Calculate the taxable income by subtracting the adjustments and deductions from the gross income. The taxable income is $\mathrm{\$}86,000-\mathrm{\$}7,000-\mathrm{\$}19,700=\mathrm{\$}59,300$.

Step 3 ：Define the tax brackets and rates for 2021. The brackets are $\mathrm{\$}9,950$, $\mathrm{\$}40,525$, $\mathrm{\$}86,375$, $\mathrm{\$}164,925$, $\mathrm{\$}209,425$, and $\mathrm{\$}523,600$. The corresponding rates are 10%, 12%, 22%, 24%, 32%, 35%, and 37%.

Step 4 ：Calculate the income tax owed by applying the rates to the taxable income within each bracket. The tax owed is $\mathrm{\$}8794.5$.

Step 5 ：Final Answer: The income tax owed is $\boxed{{\displaystyle 8794.5}}$.