Financial Planning Exercise 4 Effect of tax credit versus tax exemption Explain and calculate the diflerences resulting from a $2,000 tax credt versus a $2,000 tor deducton for o single taxpoyer with $43,000 of pre-tax income. The standard deduction in 2018 was 112,000 for single. Note that personal exemptions were susponded for 2018. Use Exhibit 3.3 to sotermine the corresponding tax rate. Round the answers to the nearest cent After-tax income (Thx Deduction) Nite-tax Income (Tax Credit)