Bobby is single with no dependents. he is 70 years old and is employed by Theta Corporation. in 2018, theta transfered him. he submits the following information to you for tax year 2018. compute the gross income, adjusted gross income, taxable income, and income tax.

salary 75,000

interest on us govt bonds 5,000

interest on airport municipal bonds 10,000

short term capital loss on sale of stock (8,000)

life insurance from death of uncle 500,000

inheritance from uncle 1,000,000

theta paid bobbys moving expenses 10,000

value of watch from safety award 1,000

cash award for 10 years of service 500

value of parking paid by company 3,600

comany paid cell phone value 2,400

alimony paid to bobbys ex wife divorce decree 12/2015 12,000

child support paid to bobbys ex wife 15,000

itemized deductions 12,500