Consider a country that taxes its citizens Individually according to the following rate schedule: Taxable income Marginal Tax Rate First $50,000 15% Over $50,000 up to $100,000 205 Over $100,000 2595 Suppose that the steps to compute tax liability are the same in this tax system as they are in Canada. Compute the tax ability for a toxpayer with $160,000 in total income of which $30,000 qualifies for a deduction and $8,000 qualifies for a credit. INOTE: Fill in the blanks below with your numeric answers. If necessary, please round to the nearest whole number. Do not include the dollar sign or commal This taxpayer's taxable income will be $138000 This taxpayer's total tax liability will be $100000