23. Michel is a tax resident of Australia. The 2019-2020 individual tax rates are as follows Resident tax rates 2019-20 Taxable income Tax on this income 0-$18,200 Nil $18,201 - $37,000 19c for each $1 over $18.200 $37,001 $90,000 $3,572 plus 32.5c for each $1 over $37,000 $90,001 - $180,000 $20,797 plus 37c for each $1 over $90,000 $180,001 and over $54,097 plus 45c for each $1 over $180,000 The Medicare levy is 2%. Michel however is not liable to pay the additional Medicare surcharge. His income tax return details were as follows: $ Salaries Open with $ Interest Revenue $ Trust Income $ Business Income $ Work Related Deductions Cost of managing tax affairs $ Gifts and Donations $ Tax Offset (Max) for Contribution to Spouse Super $ Income Protection Insurance Premium $ PAYG instalments paid $ PAYG withholding credits $ 130,000.00 1,208.76 1,637.00 4,628.44 7,821.42 86.97 20.00 540.00 2,630.44 1,732.00 as per Activity Statements 25,007.00 Tasks: Calculate to the nearest dollar 1. Michel's Taxable income, and 2. How much tax Michel will need to remit to the ATO or the refund he will get