Dereck and Sahidah are married and have two dependent children. Their 2020 tax and other related information is as follows: Total salaries $160,000 Bank account interest income 3,500 Municipal bond interest income 1,500 Value of employer provided medical insurance 12,500 Employer paid premiums for $50,000 of group term life insurance Dividend income from ABC stock 5,500 2,000 Loan from Dereck's parents 5,000 Gift from Dereck's parents 15,000 Gain from the sale of qualified small business stock acquired in 2008 18,000 Total itemized deductions 27,000 Compute Dereck and Sahidah's taxable income. (Show all calculations in good form.)