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Answer answer Answer answerAnswer answerAnswer answerAnswer answerAnswer answer Question 2 12 pts Price S. Wright and May B. Wright are married. Both are over age

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Question 2 12 pts Price S. Wright and May B. Wright are married. Both are over age 65, and are not blind. They also have three qualifying child dependents. He presents the following information to you related to their 2017 taxes: . Wages received 35 36,000 . Social security benets (in total) 18,400 . Pass-through partnership income/(loss) 2,165 . Compensatory damages for personal injury suffered 18,000 . Moving expenses 5,189 . Inheritance received 22,000 . Proceeds from a new loan to expand their house 19,000 . Annuities received (in total) 36,000 . Contribution to traditional IRA 10,000 For the annuity, they had originally invested $306,000 in 2009, and are to receive 200 monthly payments of $3,000 each. There are no limitations on the moving expenses. Assuming they le as married jointly and use the standard deduction, what is Price S. Wright and May B. Wright's 2017 tax owed? (HINT: you may want to address any issues related to social security benets last.)

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