Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at a local university and earns a salary of $67,500. Meg works part time at the same university. She earns $35,600 a year. The couple does not itemize deductions. Other than salary, the Comers' only other source of income is from the disposition of various capital assets (mostly stocks). (Use the tax rate schedules, Dividends and Capital Gains Tax Rates.) Note: Round your final answers to the nearest whole dollar amount. Problem 7-45 Part-a (Algo) a. What is the Comers' tax liability for 2022 if they report the following capital gains and losses for the year? Short-term capital gains Short-term capital losses Long-term capital gains Long-term capital losses $ 11,600 (3,300) 17,600 (7,300) Answer is complete but not entirely correct. Total tax liability $ 10,044 A11 A fx B C =9615+(0.22*(E8-83550)) D E 2 Matt Salary Basic Information 67,500.00 Salary 103,100.00 NET ST Cap Gains (loss) 8,300.00 3 Meg Salary 35,600.00 NET LT Cap Gains (loss) 10,300.00 4 ST Cap Gains 11,600.00 AGI 121,700.00 5 ST Cap Losses (3,300.00) Standard Deduction (25,900.00) 6 LT Cap Gains 17,600.00 7 LT Cap Losses (7,300.00) 8 9 10 Tax Liability Formula for $85,500 Taxable Income Separatley Taxed Income Income Taxed at Ordinary Rates (10,300.00) 85,500.00 95,800.00 11 $10,044