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John is a single taxpayer and has the following information for 2021: Income before deductions $110,000 Standard Deduction $ 12,550 $ 13,400 $ 16,100

John is a single taxpayer and has the following information for 2021: Income before deductions $110,000 Standard Deduction $ 12,550 $ 13,400 $ 16,100 $ 1,500 Itemized Deduction Federal Taxes Paid Tax Credits Required: 1. What is John's taxable income? 2. What is John's federal income taxes? 3. Does John owe money or get a refund? How much? 4. What is John's marginal tax rate? 5. What is John's average tax rate?

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