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Marc and Mikkel are martied and earned salaries this year of $65,700 and $22,200, respectively. In addition to their salarles, they recelved interest of $350

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Marc and Mikkel are martied and earned salaries this year of $65,700 and $22,200, respectively. In addition to their salarles, they recelved interest of $350 from municipal bonds and $1,350 from corporate bonds. Marc contributed $3,350 to a traditional individuai retirement account, and Marc paid alimony to a prior spouse in the amount of $2,350 (under a divorce decree effective June 1, 2006). Marc and Mikkel have a 10-year-oid adopted son, Mason, who lived with them throughout the entire year. Thus, Marc and Mikkel are allowed to claim a $2,000child tax credit for Mason. Marc and Mikkel paid $7,700 of expenditures that qualify as itemized deductions, and they had a total of $4,160 in federal income taxes withheld from their paychecks during the year. (Use the tax rate scheclules) a. 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 Mikkel's taxes payable or refund due for the year

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