Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information: She received $136,000 in salary. She received $19,000 of dividend income. She received $4,300 of interest income on Home Depot bonds. She received $21,000 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $5,600. She received $8,000 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $4,600. Mary receives one exemption ($4,000), and she has allowable itemized deductions of $7,500. These amounts will be deducted from her gross income to determine her taxable income. Assume that her tax rates are based on Table 3.5. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet

1,What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations. $

2,What is her marginal tax rate? Round your answer to 1 decimal place. %

Personal taxes
Salary	$136,000.00		Tax Table for Single Individuals:
Dividend Income	$19,000.00		Taxable Income	Amount Paid on Base	Percentage on Excess over Base
Interest Income	$4,300.00		$0.00	$0.00	10.00%
LT Stock Sale	$21,000.00		$9,225.00	$922.50	15.00%
LT Stock Cost	$5,600.00		$37,450.00	$5,156.25	25.00%
ST Stock Sale	$8,000.00		$90,750.00	$18,481.25	28.00%
ST Stock Cost	$4,600.00		$189,750.00	$46,075.25	33.00%
Personal Exemption	$4,000.00		$411,500.00	$119,401.25	35.00%
Itemized Deductions	$7,500.00		$413,200.00	$119,996.25	39.60%
Apllicable Tax Rate on Dividends & LT Capital Gains	15.00%
a. Calculation of Federal Tax Liability
Calculation of Taxable Income:			Formulas
Salary			#N/A
Interest Income			#N/A
ST Capital Gains			#N/A
Income before Exemption and Deductions			#N/A
Personal Exemption			#N/A
Itemized Deductions			#N/A
Taxable Income before Dividends & LT Capital Gains			#N/A
Taxes on Taxable Income Before Dividends & LT Capital Gains:
Tax Liability on Base of Bracket			#N/A
Tax Liability on Excess over Base			#N/A
Tax on Taxable Income before Dividends & LT Capital Gains			#N/A
Taxes on Dividends & LT Capital Gains:
Dividend Income			#N/A
LT Capital Gains Income			#N/A
Total Dividend & LT Capital Gains Income			#N/A
Tax on Dividends & LT Capital Gains Income			#N/A
Total Federal Tax Liability			#N/A
b. Calculation of Marginal Tax Rate
Marginal Tax Rate			#N/A
c. Calculation of Average Tax Rate
Average Tax Rate			#N/A

3,What is her average tax rate? Round your answer to 2 decimal places. %

She is from United states.

Table 3.5 2015 Individual Tax Rates Single Individuals Average Tax Rate at Plus This Percentage You Pay This Amount on the Base of the Bracket If Your Taxable on the Excess over the Base (Marginal Rate) 10.0% Top of Bracket 10.0% Income Is Up to $9,225 S $9,225-S37,450 $37,450-$90,750 $90,750-$189,750 s189,750-S411,500 $411,500-SS413,200 Over $413,200 922.50 15.0 13.8 5,156.25 25,0 20.4 18,481.25 46,075.25 119,401.25 119,996.25 28.0 24.3 33.0 29.0 35,0 29.0 39.6 39.6 Married Couples Filing Joint Returns You Pay This Amount on the Plus This Percentage Average Tax Rate at If Your Taxable on the Excess over the Top of Bracket Income Is Up to $18,450 $18,450-$74,900 $74,900-S151,200 $151,200-$230,450 $230,450-$411,500 $411,500-$464,850 Over $464,850 Base (Marginal Rate) Base of the Bracket S 1,845.00 10,312.50 10.0% 10.0% 15.0 13.8 25.0 19.4 29,387.50 51,577.50 111,324.00 28.0 22.4 33.0 27.1 35,0 28.0 129,996.50 39.6 39.6 Table 3.5 2015 Individual Tax Rates Single Individuals Average Tax Rate at Plus This Percentage You Pay This Amount on the Base of the Bracket If Your Taxable on the Excess over the Base (Marginal Rate) 10.0% Top of Bracket 10.0% Income Is Up to $9,225 S $9,225-S37,450 $37,450-$90,750 $90,750-$189,750 s189,750-S411,500 $411,500-SS413,200 Over $413,200 922.50 15.0 13.8 5,156.25 25,0 20.4 18,481.25 46,075.25 119,401.25 119,996.25 28.0 24.3 33.0 29.0 35,0 29.0 39.6 39.6 Married Couples Filing Joint Returns You Pay This Amount on the Plus This Percentage Average Tax Rate at If Your Taxable on the Excess over the Top of Bracket Income Is Up to $18,450 $18,450-$74,900 $74,900-S151,200 $151,200-$230,450 $230,450-$411,500 $411,500-$464,850 Over $464,850 Base (Marginal Rate) Base of the Bracket S 1,845.00 10,312.50 10.0% 10.0% 15.0 13.8 25.0 19.4 29,387.50 51,577.50 111,324.00 28.0 22.4 33.0 27.1 35,0 28.0 129,996.50 39.6 39.6