LO.1 Daniel, age 38, is single and has the following income and expenses in 2021: $65,000 6,000 3,500 12,000 9,900 1,200 Salary income Net rent income Dividend income Payment of alimony (divorce finalized in March 2019) Mortgage interest on residence Property tax on residence Contribution to traditional IRA Contribution to United Church Loss on the sale of real estate (held for investment) Medical expenses State income tax Federal income tax 6,000 2,100 2,000 3,250 2,300 5,800 a. Calculate Daniel's AGI. b. Should Daniel itemize his deductions from AGI or take the standard deduction? Explain. Drain