Essay-8 points Grace, age 25, is single and has no dependents. She is a high school teacher and earned a $30,000 salary in the current year. Her other income consisted of a $1,000 prize won in a sweepstakes contest and $500 interest on tax exempt municipal bonds she received as a graduation gift in 2018. She also took out a $4,000 loan to pay for a vacation. Her itemized deductions are: $1,000 unreimbursed medical expenses, $1,000 Pennsylvania state income tax, $3,500 mortgage interest on her primary residence, $900 charitable contributions to 501(c)(3) organizations, and $200 in union dues. Compute Grace's taxable income for the year using the tax formula provided below.