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 assembied the foliowing relevant information: - She recelved $129,000 in salary. - She recelved $14,000 of dividend income. - She recelved $7,900 of interest income on Home Depot bonds. - She recelved $23,500 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $5,600. - She recelved $9,500 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $6,300. - Mary recelves one exemption ($4,000), and she has allowable itemized 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 spreadsheet and perform the required analysis to answer the questions below. a. What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations. b. What is her marginal tax rate? Round your answer to 1 decimal place. % A o C Snlary Tax Table for Single individuals: Dibend Income Interest thcome LT Stock Sale LT Slock Cout ST Stock Sale ST Stock Cost Portonal Exemption Itemized Deductions Aplicable Tax Rate on Dividends 8 LT Capital Gains a. Calculabon of Fedoral Tox Liablity Calculation of Taxable income: Salary Imerest income 16. ST Capital Gains 19 Income before Exemption and Deductions: Personal Exemption liemized Deductions Taxable Income belore Dividends \& LT Capital Gains \begin{tabular}{|ll} \hline Formulas \\ \hline WNU/A \\ WNIA \\ WN/A \\ INWA \\ IN/A \\ BN/A \\ WN/A \end{tabular} Taxes an Taxable lncome Before Dividends \& LT Capilal Gains: Tax Liability on Base of Brocket Tax Liability on Excess over Base Tax on Taxable Income before Dividends \& LT Capial Gains \begin{tabular}{|r} \hline BNA \\ \hline BNA \\ ANA \end{tabular} Taxes on Dividends \& LT Capital Gains: Dividend income LT Capital Gains income Total Dividend \& LT Capital Gains income Tax on Dividends \& LT Capitat Gains income Total Federal Tax Liability b. Calculation of Marginal Tax Rate Marginal Tax Rate c. Cabculation of Average Tax Rato Average Tax Rate