Compute the gross income, adjusted gross income, and taxable income in the following situation. Use the exemptions and deductions in the table to the right. Explain how it was decided whether to itemize deductions or use the standard deduction. A woman is single and earned wages of $58,300. She received $450 in interest from a savings account. She contributed $500 to a tax-deferred retirement plan. She had $3530 in itemized deductions from charitable contributions. .. Tax Rate 10% 15% 125% 28% 33% 35% 39.6% Standard deduction Exemption (per person) Single up to $9325 up to $37,950 up to $91,900 up to $191,650 up to $416,700 up to $418,400 above $418,400 $6350 $4050 Her gross income is $ (Simplify your answer.) Her adjusted gross income is $ (Simplify your answer.) Should she use the standard deduction or itemized deductions when finding her taxable income? O A. She should use itemized deductions as it would deduct more money from her taxable income. B. She should use itemized deductions as it would deduct less money from her taxable income. C. She should use the standard deduction as it would deduct less money from her taxable income. D. She should use the standard deduction as it would deduct more money from her taxable income. Her taxable income is $ (Simplify your answer.)