Frank and Jessie are married taxpayers filing jointly, use the cash method of accounting and the calendar year, and have the following items of income and expenses in 2022: Expenses \begin{tabular}{lrr} \hline Punitive damages per lawsuit settlement paid to Frank's former business partners & : & $25,000 \\ State of Missouri income tax withholding & : & 6,000 \\ Federal income tax withholding & : & 47,600 \\ Contributions to Frank's traditional individual retirement account ('IRA") & : & 4,750 \\ Real property taxes paid in Clay County, Missouri & : & 10,000 \\ Charitable contributions to U.S.-based 501(c)(3) public charities & : & 20,000 \\ Medical insurance premiums paid by Jessie's employer under a group plan & : & 15,000 \end{tabular} Calculate Frank and Jessie's: a) gross income; b) adjusted gross income ("AGI"); c) taxable income; and d) Federal income tax for 2022 (using the 2022 rate brackets and ignoring the alternative minimum tax). Assume that Frank and Jessie used the standard deduction in 2020 and were correct in doing so. If an item of income or expense is not includible in gross income or not allowable as a deduction, explain the reason(s) why