1. The U.S. Income Tax System Suppose there are two taxpayers, Jenna and Brigitte. Jenna is a single mother of four who earned $60,000 annually in wage income and Brigitte is a single mother with one child and earned $320,000 annually in wage income. Also, suppose that earnings below $30,000 are taxed at a 10% marginal rate, earnings between $30,000 and $80,000 are 30%. taxed at a 20% marginal rate and earnings above $80,000 are taxed at a marginal rate of a. Assuming that there is an exemption of $4,000 and a standard deduction of $6,000, what is the tax liability of Jenna? What is the tax liability of Brigitte? Show your work. (6 points) Jenna Brigitte 30,000 (,1 ) ) =3,000 60,000 10) ( ,2)=800 (5x4,000) = 20/000 320, 000 (80,000. ( 61000 ) - (2x41,000) =-8,000 = 101 - (6,000 ) (306,000-80 tax 34, 000 taxable income 306/000 taxable income ability b. Assume now that the exemption was eliminated and the standard deduction add increased to $12,000. What is the tax liability of Jenna? What is the tax liability of Brigitte? (5 points) ( . 1 ) = Jenna Brittle 60,000 320,000 30, 050 ( , 1) = 3