The tax rate for the taxable income is based on the income before the exclusion, but then it is just applied to the taxable income. You are in the 24% tax bracket. Your taxable income of $82,000 is taxed at 24%: 82000 x .24 = 19,680. This will not add up exactly because some of your income is dividends. Since we got very close to the number in TurboTax, it does tell us how this is being determined.
See the Foreign Earned Income Tax Worksheet at this link. This will explain how the tax is calculated as well.
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