Output error

I am trying to get the output income to be only to 2 decimal places, I attempted the cin.precision(2) but the number outputted is something way off. Let me know what I need to change to make it display correctly. I don't know what I am missing.

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# include <iostream>
# include <string>
# include <iomanip>


using namespace std;

int main()
{
	double taxableIncome;
	double incomeTax = 0.00;
	double error;
	string returnType;
	char tryAgain;
	bool isAgain = false;
	char answer;
	
	cout << "Kirk's Tax Calculator";
	cout << "\nCS 1410 Project #8" << endl;
	while (true)
	{
		do
		{
			error = 0;
			cout << "\nPlease enter in your taxable income.";
			cout << "\nThis must be a positive value: ";
			cin >> taxableIncome;
			if (taxableIncome < 0)
			{
				cout << "Please enter a valid integer" << endl;
				cin >> taxableIncome;
				cin.clear();
			}
		} while (error);

		do
		{
			isAgain = false;
			cout << "\nPlease enter an \"m\" if married and filing joint return,";
			cout << "\nor \"s\" if filing a single return or married filing separate return: ";
			cin >> returnType;
			if (returnType == "m" || returnType == "M")
			{
				if (taxableIncome > 0 && taxableIncome < 1726)
				{
					incomeTax = (((taxableIncome - 0)*.023) + 0);
				}
				if (taxableIncome > 1726 && taxableIncome < 5176)
				{
					incomeTax = (((taxableIncome - 1726)*.033) + 40);
				}
				if (taxableIncome > 5176 && taxableIncome < 8626)
				{
					incomeTax = (((taxableIncome - 5176)*.052) + 175);
				}
				if (taxableIncome > 8626)
				{
					incomeTax = (((taxableIncome - 8626)*.075) + 390);
				}
				cout << "\nYour taxable income is $" << taxableIncome;
				cout << "\nand you are filing a joint return." << endl;
				cout.precision(2);
				cout << "Your income tax will be $" << incomeTax << endl;
			}
			else
				if (returnType == "s" || returnType == "S")
				{
				if (taxableIncome > 0 && taxableIncome < 863)
				{
					incomeTax = (((taxableIncome - 0)*.023) + 0);
				}
				if (taxableIncome > 863 && taxableIncome < 2588)
				{
					incomeTax = (((taxableIncome - 863)*.033) + 25);
				}
				if (taxableIncome > 2588 && taxableIncome < 4313)
				{
					incomeTax = (((taxableIncome - 2588)*.052) + 85);
				}
				if (taxableIncome > 4313)
				{
					incomeTax = (((taxableIncome - 4313)*.075) + 181);
				}

				cout << "\nYour taxable income is $" << taxableIncome;
				cout << "\nand you are filing a single return." << endl;
				cout.precision(2);
				cout << "Your income tax will be $" << incomeTax << endl;
				}
				else
				{
					isAgain = true;
					cout << "that is an invalid character" << endl;
				}

		} while (isAgain);

		// Loop to ask user is he/she would like to play again.
		while (true) 
		{ 
			// Get user response.
			cout << "Would you like to do another calculation (y or n)? ";
			cin >> answer;
			cin.ignore();

				// Check if proper response.
				if (answer == 'n' || answer == 'N' || answer == 'y' || answer == 'Y') 
				{
					break;
				}
				else 
				{
					cout << "Please enter \'y\' or \'n\'...\n";
				}
		}

		// Check user's input and run again or exit;
		if (answer == 'n' || answer == 'N') 
		{
			std::cout << "Thank you for playing!";
			break;
		}
			else 
			{
				cout << "\n\n\n";
			}
	}

	return 0;
}
I figured it out!
 
cout << fixed << setprecision(2);
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