Barney is a salaried employee making $85,200 annually. He gets 2 weeks of paid vacation each year, and he gets paid twice a month (on the 1st and the 15th). He contributes 10% of his gross income to his 401(k). He owns a home, so he paid $11,000 in mortgage interest last year, $4,600 in property taxes, and $400 in DMV fees. He will file his taxes as a single.

a) What is Barney’s gross income for the year?

b) After his 401(k) contributions, what is Barney’s AGI (adjusted gross income)?

c) After deductions, what is Barney’s taxable income?