2) Ms Fletcher lives in Exeter and earns 40,000 per annum from employment; she is exempt from national insurance payments. In the current tax year, she received 500 in interest from her bank account and 5,000 in dividends from holding stock in UK companies. Ms Fletcher also contributes 10% of her salary to her defined contribution pension plan. Calculate Ms Fletcher's tax payable for the tax year 2020-21. Briefly comment on the tax efficiency of her savings, investments, and pension. What is Ms Fletcher's net monthly income? [20 MARKS] 2) Ms Fletcher lives in Exeter and earns 40,000 per annum from employment; she is exempt from national insurance payments. In the current tax year, she received 500 in interest from her bank account and 5,000 in dividends from holding stock in UK companies. Ms Fletcher also contributes 10% of her salary to her defined contribution pension plan. Calculate Ms Fletcher's tax payable for the tax year 2020-21. Briefly comment on the tax efficiency of her savings, investments, and pension. What is Ms Fletcher's net monthly income? [20 MARKS]