1 1 point Taxpayer is single, and his marginal tax rate on ordinary income is 32 percent. During the tax year, Taxpayer sells his coin collection and realizes a gain of $5,000 on the sale. Taxpayer realizes no other gains or losses during the year. Determine the Taxpayer's tax liability on the sale of the coin collection. 1000 0 750 1400 10 1 point Taxpayer and Spouse are a married couple filing jointly. This year, the couple reported AGI of $176,000 and taxable income of $151,200. During the year, the couple paid $3,600 for tuition and related fees so that their dependent child, age 18, could attend her first year of college. Determine the amount of the American Opportunity Tax Credit to which the couple is entitled for the year after any applicable phase out. Note that the phase-out range for MF) is $160,000 to $180,000. O 1920 2500 500 2400 480 3 1 point Interest earned on Series EE savings bonds is received at redemption but must included in gross income annually. O True False