Calculation Question 1. Mr. and Mrs. Gerard are a Married taxpayer, and are filing Jointly. In 2015, their combined salary was $95,750 and the interest income from their savings investment was $3,500. In addition, they both have combined deductions for adjusted gross income of $7,360, and $6,000 of itemized deductions. If they claim 3 exemptions this year (their selves one child who is 5 years old), and they have made and received tax credits & prepayments equaled to $4,250,. Please calculate the following amounts--- Gross income _______________ Adjusted Gross Income _______________ Standardized or Itemized deduction amount _______________ Taxable income _______________ Gross Tax Liability _______________ Percentage of Gross Income _______________ Tax Credits and Prepayments _______________ Tax due or Refunded _______________ F.I.C.A. _________________