Financial Planning Exercise 2 Estimating taxable income, tax liability, and potential refund Charlotte Taylor is 24 years old and simgle, lives in an apartment, and has no dependents. Last year (2018) she corned $55,000 as a sales assistant for Office Furniture Rentols; $7,000 of her wages was withheld for federal incorne taxes: In oddition, she had interest income of $76. The standard deduction in 2018 was $12,000 for single. Note that personal exemptions were suspended for 2018, Rofer to Exhibit 3.3 for the oppropriote tax rate schedule. a. Estimate her taxable income. 5 b. Estimate her tax liablity. Round the answer to the nearest cent. Use unrounded values in later calculations. (Hint Use the tax rote schedules given in Exhibit 3.3 to determine her tox liability.) 5 c. Estimote her tox refund or tax owed. Enter tax owed, if any, as negotive amount. Round the answer to the nearest cent. Financial Planning Exercise 2 Estimating taxable income, tax liability, and potential refund Charlotte Taylor is 24 years old and simgle, lives in an apartment, and has no dependents. Last year (2018) she corned $55,000 as a sales assistant for Office Furniture Rentols; $7,000 of her wages was withheld for federal incorne taxes: In oddition, she had interest income of $76. The standard deduction in 2018 was $12,000 for single. Note that personal exemptions were suspended for 2018, Rofer to Exhibit 3.3 for the oppropriote tax rate schedule. a. Estimate her taxable income. 5 b. Estimate her tax liablity. Round the answer to the nearest cent. Use unrounded values in later calculations. (Hint Use the tax rote schedules given in Exhibit 3.3 to determine her tox liability.) 5 c. Estimote her tox refund or tax owed. Enter tax owed, if any, as negotive amount. Round the answer to the nearest cent