Exercise 3-20 (LO. 6) Compute the 2020 tax liability and the marginal and average tax rates for the following taxpayers. Click here to access the 2020 tax rate schedule. If required, round the tax liability to the nearest dollar. When required, round the average rates to four decimal places before converting to a percentage (i.e. .67073 would be rounded to .6707 and entered as 67.07%). a. Chandler, who files as a single taxpayer, has taxable income of $94,800. Tax liability: Marginal rate: 24 % Average rate: % b. Lazare, who files as a head of household, has taxable income of $57,050. Tax liability: Marginal rate: 22 % Average rate: % Exercise 4-22 (Algorithmic) (L0.3) Simba and Zola are married but file separate returns. Simba received $61,600 of salary and $7,100 of taxable dividends on stock he purchased in his name and paid from the salary he earned since the marriage. Zola collected $900 in taxable interest on a certificate of deposit she inherited from her aunt. Compute Zola's gross income under two assumptions as to the state of residency of the couple. If an amount is zero, enter "$0". Idaho (Community Property State) South Carolina (Common Law State) Dividends Interest Salary