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Just need help finding what Mary's federal tax liability is. Mary Jarvis is a single individual who is working on filling her tax return for

Just need help finding what Mary's federal tax liability is.
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Mary Jarvis is a single individual who is working on filling her tax return for the previous year. She has assembled the following relevant information: . She received $133,000 in salary. She received $18,500 of dividend income. She received $8,700 of interest income on Home Depot bonds. She received $24,500 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $7,000. She received $15,000 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $5,800. Mary receives one exemption ($4,000), and she has allowable itemized deductions of $7,500. These amounts will be deducted from her gross income to determine her taxable income. Assume that her tax rates are based on Table 3.5. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. X Open spreadsheet a. What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations. 87503 b. What is her marginal tax rate? Round your answer to 1 decimal place. 28 % c. What is her average tax rate? Round your answer to 2 decimal places. 21.38 % ***** Personal taxes Salary Dividend Income Interest Income LT Stock Sale LT Stock Cost ST Stock Sale 9 ST Stock Cost 10 Personal Exemption 1 Itemized Deductions 12 Aplicable Tax Rate on Dividends & LT Capital Gains 3 4 a. Calculation of Federal Tax Liability 15 Calculation of Taxable Income: 16 Salary 17 Interest Income 18 ST Capital Gains 19 Income before Exemption and Deductions 20 Personal Exemption 21 Itemized Deductions 22 Taxable Income before Dividends & LT Capital Gains 23 24 Taxes on Taxable Income Before Dividends & LT Capital Gains 25 Tax Liability on Base of Bracket 26 Tax Liability on Excess over Base 27 Tax on Taxable income before Dividends & LT Capital Gains 28 29 Taxes on Dividends & LT Capital Gains: 30 Dividend Income 31 LT Capital Gains Income 32 Total Dividend & LT Capital Gains Income 33 Tax on Dividends & LT Capital Gains Income 35 Total Federal Tax Liability 36 37 b. Calculation of Marginal Tax Rate 38 Marginal Tax Rate 39 40 c. Calculation of Average Tax Rate 41 Average Tax Rate 42 44 C $18,500.00 $8,700.00 $24,500.00 $7,000.00 $15,000.00 $5,800.00 $4,000.00 $7,500.00 15.00% Tax Table for Single Individuals: Taxable income Formulas #N/A #N/A #N/A #N/A #N/A #N/A #N/A #NIA #NIA #N/A UNIA #N/A #N/A #N/A #N/A #N/A #NIA Amount Paid Percentage on Excess over Base on Base 10.00% $0.00 $9,225,00 $0.00 $922.50 15.00% $37,450.00 $5,156.25 25.00% $90,750.00 $18,481.25 28.00% 33.00% $189,750.00 $46,075.25 35.00% $411,500.00 $119,401,25 $413,200.00 $119,996.25 39.60%

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