7. Barbara and George Rush are married with two dependent children. During 2013, they had the following items of income: Barbara's Salary $ 50,000 George's Salary 30,000 George's Pension 24,000M Interest (all taxable) 50,000 ** George, age 60, retired during the year and began receiving a $3,0001month pension. The exclusion rate on the pension is 30% (this means that 70% of the pension should be included in gross income). The Rush's also had $15,000 of itemized deductions. Compute: a) the Rush's AGI b) the Rush's Taxable Income. c) the Rush's Federal Income Tax Liability

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