Kurt and Michelle Green are married and have one qualifying child living with them who is 3 years old. They earned the following items during the current year: Salary-Kurt $ 136,500 Interest income on corporate bonds 3,000 Interest income on State of Michigan bonds 1,300 You have correctly determined that Kurt and Michelle have qualified "for AGI deductions of $2,500 and qualified itemized deductions of $20,000. The $20,000 does NOT include $500 of charitable contributions they paid to their church. You have determined they also have a qualified child tax credit of $3,600 for their 3-year-old child. Kurt's employer withheld $11,500 of federal income taxes from Kurt's paychecks during the year. Required: Using the 2021 rules for the child tax credit, calculate Kurt and Michelle's 2020: (1) Adjusted Gross Income; (2) Taxable Income; (3) Total Tax using the rate schedule below; and (4) Net Tax Due. Schedule Y-1 - Married Filing Jointly or Qualifying Widow(er) Tax Rate Schedule (Appendix ) If taxable income But not over: The tax is: is over: 0 $ 19,900 10% of taxable income $ 19,900 $ 81,050 $1.990 plus 12% of the excess over $19,900 $ 81,050 $172,750 $9,328 plus 22% of the excess over $81,050 $172,750 $329,850 $29,502 plus 24% of the excess over $172,750 $329,850 $418,850 $67,206 plus 32% of the excess over $329,850 $418,850 $628,300 $95,686 plus 35% of the excess over $418,850 $628,300 $168.993.50 plus 37% of the excess over $628,300