Excel Online Structured Activity: Personal taxes

Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information:

She received $$80,000$ in salary.

She received $$17,500$ of dividend income.

She received $$7,400$ of interest income on Home Depot bonds.

She received $$22,000$ from the sale of Disney stock that was purchased $2$ years prior to the sale at a cost of $$6,800.$ She received $$12,000$ from the sale of Google stock that was purchased $6$ months prior to the sale at a cost of $$6,000.$

Mary receives 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 $3\mathrm{.}5.$ 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.