Brad and Angie are married and wish to file a joint return for 2013. They have one dependent child, Shiloh (age 15), who lives with them. Brad and Angie have the following items of income and expense for 2013: Income: Brads salary $115,000 Angies salary 125,000 Interest income on State of Arizona bonds 3,000 Interest income on US Treasury bonds 8,000 Qualified cash dividends 6,000 Regular (nonqualified) cash dividends 8,500 FMV of shares received from stock dividend 5,000 Share of Hollywood Partnership loss* (12,000) Share of Rodeo Corporation (an electing S corporation) income** 30,000 Life insurance proceeds received on the death of Brads mother 100,000 Short-term capital gains 6,000 Short-term capital losses (10,000) 25% Long-term capital gains 18,000 15% Long-term capital gains 30,000 15% Long-term capital losses (5,000) Expenses: Home mortgage interest ($250,000 principal) 15,000 Home equity loan interest ($120,000 principal) 9,600 Houseboat loan interest ($50,000 principal), fully equipped 5,000 Car loan interest 3,000 Home property taxes 5,000 Houseboat taxes (ad valorem) 1,200 Car tags (ad valorem part) 500 Arizona income tax withheld 13,000 Federal income taxes withheld 45,000 Arizona sales taxes paid 9,500 Medical insurance premiums (not part of an employer plan) 12,000 Unreimbursed medical bills 10,000 Charitable contributions 13,500 * Brad and Angie invested $10,000 as general partners in the Hollywood Partnership at the beginning of 2013. The loss is not the result of real estate rentals. Neither Brad nor Angie materially participate. ** Angie is a 50% owner and President of Rodeo. She materially participates in the corporation. REQUIRED: Determine Brad and Angies tax liability, using the tax formula. You must label your work, provide supporting schedules for summary computations, and indicate any carryovers. Present your work in a neat, orderly fashion. PART 2. Brad and Angie have purchased several U.S. savings bonds in Shilohs name for college savings. Shiloh is recognizing all interest on the bonds under the accrual method. During 2013, the bonds earned $3,000 of taxable interest. Shiloh also earned $900 from babysitting. REQUIRED: Determine Shiloh tax liability, using the tax formula. Label all work. I only need part 2 solution