Marcus and Jane are married taxpayers. In 2022, they will file a joint return and will take the $25,900 standard deduction. Marcus is the owner of Just Fabulous, a boutique clothing store in Lake Pleasant, Illinois. Just Fabulous, which Marcus operates as sole proprietorship, had qualified business income of $600,000 in 2022 . He paid $70,000 in w-2 wages to his two emplovees(note: these wages are included in determining the $600,000 of qualified business income). In addition, the unadjusted basis in assets was $1,000,000 (this amount includes the building and retail fixtures). Jane is the director of marketing for a large corporation. Marcus and Jane's gross income excluding the $500,000 from Just Fabulous was $400,000 1. Determine Marcus and Jane's taxable income in 2022. Note: you do NOT need to calculate the tax liability. Make sure to show your calculations. 2. Assume that instead of owning and operating Just Fabulous, Marcus was a CPA earning $600,000. He paid w2 wages of $70,000 and the unadjusted basis of his computers and office furnishings was $600,000. They continue to take the $25,900 standard deduction rather than itemize. Under this scenario, what is Marcus and Jane's taxable income in 2022