Cecil C. Seymour is a 64-year-old widower. He had income for 2016 as follows: Pension from former employer $39, 850 Interest Income from Alto National Bank 5.500 Interest Income on City of Alto bonds 4, 500 Dividends received from IBM stock held for over one year 2.000 Collections on annuity contract he purchased from Great Life Insurance 5.400 Social Security benefits 14.000 Rent income on town house 9, 000 The cost of the annuity was $16.800. and Cecil was expected to receive a total of 260 monthly payments of 5450 Cecil has received 22 payments through 2016. Cecil's 40-year-old daughter. Sarah C. Seymour, borrowed 560.000 from Cecil on January' 2. 2016. She used the money to start a new business. Cecil does not charge her interest because she could not afford to pay it, but he does expect to collect the principal eventually. Sarah is living with Cecil until the business becomes profitable. Except for housing. Sarah premeds her own support from her business and 51.600 in dividends on stocks that she inherited from her mother Other relevant information Is presented below: Cecil's Social Security number: 123-45-6785 Address 3840 Springfield Bind, Alto, GA 30510 Sarah s Social Security number 123-15 6784 Expenses on rental townhouse: Utilities $2, 800 Maintenance 1, 000 Depreciation 2.000 Real estate taxes 750 Insurance 700 Stale income taxes paid: 53, 500 County personal property taxes paid: 52, 100 Payments on estimated 2015 Federal income tax: 55.900 Charitable contributions of cash to Alio Baptist Church: 56.400 Federal interest rale: Sales taxes paid: 5912 Compute Cecil's 2016 Federal income tax payable (or refund due)