In 2020, Simon, age 12, has interest income of $8,460 on funds he inherited from his grandmother and no earned income. He has no investment expenses. His parents have taxable income of $82,250 and file a joint return. Assume that no parental election is made. Click here to access the 2020 tax rate schedule. If required, round the tax computations to the nearest dollar. Simon's net unearned income is Simon's allocable parental tax is Simon's total tax is