Excel Online Structured Activity; Personal taxes Mary Jarvis is a single individual who is working on filing her tax retum for the previous year. She has assembled the following relevant information: - She received $124,000 in salary. - She received $16,000 of dividend incomse. - She recelved $3,600 of interest income on Home Depot bonds. - She received $24,000 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $5,700. - She recelved $10,500 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $5,700. - Mary receives one exemption ($4,000), and she has allowable liemized deductions of $7,500. These amounts will be deducted from her gross income to determine her taxable income. Assume that her tax rates are based on Table. 3.5. The data has been collected in the Microsoft Excel Online file below, Open the spreadsteet and perform the required analysis to answer the questions below. a. What is Mary's federal tax lability? Round your answer to the nearest cent. Do not round intermediate calculations. b. What is her marginal tax rate? flound your answer to I decimal place. c. What is her average tax rate? Round your answer to 2 decimal places. Personal taxes Satary Hax Table for Singlo individuals: 14 a. Calculation of Federal Tax Lability 15. Calculation of Tixable incame. 16 Salary 17 Interest incorre 18 ST Capital Gains. 19 Income betore Exemption and Deductions 20. Personal Exenotion 21 ilemeed Deductions 22. Taxable income belore Dividends \& LT Capital Gains 24 Taxes on Taxable income Blefore Oividends of LT Capitar Gains: 23. Tax Lability on Base of Bracket. Tar Liabaty on Excess over Base 27. Tax on Tambie income belore Divisendi 8 LT Capalal Cains 29 Raves on Owdends & LT Capitar Gains. Dividend income IT Coptal Gain income 12. Total Dividend 8 ur Capital Gains income 33. Tax on Dividends s it copilat Gains income 35 Total Federai Tox Liabily: b. Caloulaton of Marginal Tax Rale Margraw Tac Rate c. Caloulation of Average Tax Rale 4) Average Tax Rate