Marc and Michelle are married and earned salaries this year of $72,400 and $15,150, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $1,550 from corporate bonds. Marc contributed $3,550 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $2,550. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000 child tax credit for Matthew. Marc and Michelle paid $8,100 of expenditures that qualify as itemized deductions and they had a total of $6,940 in federal income taxes withheld from their paychecks during the course of the year.
What is Marc and Michelle's gross income?
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