1. Bobby is single with no dependents. He is 70 years old and is employed by Theta Corporation. In 2018, Theta transferred him to Macon, Georgia from Denver, Colorado. He submits the following information to you for tax year 2018. Compute the gross income, adjusted gross income, taxable income, and income tax. Salary $75,000 Interest on U.S. Govemment Bonds 5,000 Interest on Atlanta Airport Municipal Bonds 10,000 Short-term Capital Loss on sale of stock (8,000) Life Insurance from death of Uncle Ted 500,000 Inheritance from Uncle Ted 1,000,000 Theta paid Bobby's moving expenses 10,000 Value of watch given by Theta to Bobby as a safety award 1,000 Cash award to Bobby for his 10 years of service with Theta 500 Value of parking for twelve months, paid by company 3,600 Value of company-paid cell phone 2,400 Alimony paid to Bobby's ex-wife, divorce decree 12/31/15 12,000 Child support paid to Bobby's ex-wife 15,000 Itemized deductions 12,500 Note that Theta has a qualified plan for the safety award and recognition of service award