Charlotte Taylor is 24 years old and single, lives in an apartment, and has no dependents. Last year (2018) she earned $54,500 as a sales assistant for Office Furniture Rentals; $6,830 of her wages was withheld for federal income taxes. In addition, she had interest income of $179. The standard deduction in 2018 was $12,000 for single. Note that personal exemptions were suspended for 2018. Refer to Exhibit 3.3 for the appropriate tax rate schedule.

a. Estimate her taxable income.

b. Estimate her tax liability. Round the answer to the nearest cent. Use unrounded values in later calculations. (Hint: Use the tax rate schedules given in Exhibit 3.3 to determine her tax liability.)

c. Estimate her tax refund or tax owed. Enter tax owed, if any, as negative amount. Round the answer to the nearest cent.