1. Auggie and Judy Reynolds are married and file a joint return. They have no children. Auggie is 68 and Judy is 60. They contribute over half of the support for Judy's mother, Cora (age 85). Cora earned $675 in interest in 2020 and received $4,900 in social security benefits as her only income. Cora lives in an apartment above the Reynolds' garage and does not pay any of her own expenses. Auggie earned a salary of $72,650 in 2020 from his job at Korma Corp. Judy worked part-time and earned $27,720. They also received the following: Life insurance proceeds $90,000 Inheritance of $32,340 Interest on State of Virginia bonds $320 used to finance state budgets Dividends on stock of a Swiss corporation $420 Interest on savings accounts $104 If the Reynolds have itemized deductions of $23,620 what is their taxable income for 2020.