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 $84,000 in salary. She received $16,000 of dividend income.. She received $8,000 of interest income on Home Depot bonds. She received $23,500 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $6,300. She received $8,500 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $7,400. 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 a. What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations. b. What is her marginal tax rate? Round your answer to 1 decimal place. % c. What is her average tax rate? Round your answer to 2 decimal places. % Personal taxes 3 Salary 4 Dividend Income 5 Intorest Income 6 LT Stock Sale 7 LT Stock Cost B1 ST Stock Sale 9 ST Stock Cost 10 Personal Exemption 11 nomized Deductions 12 Aplicable Tax Rate on Dividends & LT Capital Gains 13 14 a. Calculation of Federal Tax Liability 15 Calculation of Taxable income 16 Salary 17 Interest Income 18 ST Capital Gains 19 Income before Exemption and Deductions 20 Personal Exemption 21 lemizod Deductions 22 Taxable income before Dividends & LT Capital Gains 23 24 Taxes on Taxable Income Before Dividends & LT Capital Gains 25 Tax Liabilty on Base of Bracket 26 Tax Liability on Excess over Base B $84,000,00 $16,000.00 $8,000.00 $23,500.00 $6,300.00 $8,500.00 $7,400.00 $4,000.00 $7,500.00 15.00% 10:00 $0.00 ACI C D Tax Table for Single Individuals Taxable income Formulas #NA WNIA #N/A NA NA Amount Paid on Base $0.00 $922.50 $0.00 $9,225.00 $37,450.00 $5,156.25 $90,750.00 $189,750.00 $46,075 25 $18,481 25 $411,500.00 $119,401.25 $413,200.00 $119.90625 ANA UNA =VLOOKUP(B22.05 F11,2) (822-V1.OOKUP(22,05 F11,1VLOOKUP(B22 D5F11,0) F Percentage on Excess over Base 1000% 15.00% 25.00% 28.00% 33.00% 35.00% 39 60% G H