Assuming John makes all 12 payments during he year Rose inclade in gross income how much of the 142.000 $37.200 b $42,000. e. $4,800 d. S0 e None of the above 9. A taxpayer reported the following items for the year $50,000 Gain on sale of ABC stock Gambling winnings Gambling losses Door prize ,000 5,000 8,000 1,000 What is the taxpayers adjusted gross income? a. $57,000 b. $54,000 . $51,000 d. $53,000 e. $59,000 10) To calculate a tax, you need to know I. the tax base II. the taxing agency III. the tax rate IV. the purpose of the tax A) Only I is correct. B) Only IV is correct. C) Only III is correct D) Items I through IV are correct E) I and III are correct. 11) Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in interest from an investment in city of Birmingham Bonds. Using the U.S. tax rate schedule for year 2018, how much federal tax will he owe? (Use tax rate schedule) A) $13,200.00 B) S10,239.50 C) $9,139.50 D) $4,453.50 E) None of the choices are correct