7. Suppose the standard deduction amount is $4,000 and taxpayer has current itemized deduction of $3,000. Taxpayer is considering making a cash charitable contribution of $2,000. What is the ATCF of this proposed contribution if tstat -28%? 8. Assume the standard deduction for this year and next year is $9,000 and the tax rate (t) is .30. The taxpayer's only itemized deduction over the two-year period will be charitable contributions. The taxpayer plans on making contributions of $16,000 over the two-year period and currently plans on making them in equal amounts each year. Compute the ATCF from this strategy over the two-year period. Are there alternative strategies that improve the taxpayer's economic well-being? Compute the ATCF over the two-year period for your suggested strategy? Ignore discounting