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Marc and Mikkel are married and eamed salaries thi yca or $65,100 and $18,600, respectively. In addition to their salaries, they received interest of $350

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Marc and Mikkel are married and eamed salaries thi yca or $65,100 and $18,600, respectively. In addition to their salaries, they received interest of $350 from munic jonds and $1,050 from corporate bonds. Marc contributed $3,050 to a traditional individual retirement account, and N arr paid alimony to a prior spouse in the amount of $2,050 (under a divorce decree effective June 1, 2006). Marc and M sel have a 10-year-old adopted son. Mason, who lived with them throughout the entire yeat. Thus, Marc and Mikkel are allowed to claim a $2,000 child tax credit for Mason. Marc and Mikkel paid $7,100 of expenditures that qualify as itemized deductions, and they had a total of $3,140 in federal income taxes with held from their paychecks during the year. (Use the tax rate schedules.) Required: o. What is Marc and Mikkel's gross income? b. What is Marc and Mikkel's adjusted gross income? c. What is the total amount of Marc and Mikkel's deductions from AGI? d. What is Marc and Mikkel's taxable income? e. What is Marc and Mikker's taxes payable of refund due for the year

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