Use the 2021 marginal tax rates to compute the income tax owed by the following person. Filing status: single Gross income: $\$ 86,000$ Adjustments: $\$ 7000$ Deductions: $\$ 13,500$ mortgage interest $\$ 4200$ property taxes $\$ 2000$ charitable contributions Tax credit: none 1. Click the icon to view the 2021 marginal tax rates. The income tax owed is $\$ \square$. (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 \( \$ 86,000 \), the adjustments are \( \$ 7,000 \), and the deductions are \( \$ 13,500 \) for mortgage interest, \( \$ 4,200 \) for property taxes, and \( \$ 2,000 \) for charitable contributions.

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

Step 3 ：Define the tax brackets and rates for 2021. The brackets are \( \$ 9,950 \), \( \$ 40,525 \), \( \$ 86,375 \), \( \$ 164,925 \), \( \$ 209,425 \), and \( \$ 523,600 \). 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 \( \$ 8794.5 \).

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