Mike and Julie Bedard are a working couple. They will file a joint income tax return. This year they have the following taxable income 1. $120.000 from salary and wages (ordinary income). 2. $5,000 in interest income 3. $1,000 in dividend income. 4 $3,000 in profit from sale of a stock they purchased two years ago 5. $5,000 in profit from a stock they purchased this year and sold this year. Use the federal income tax rates given in Table 12 Ep to work this problem a. How much will Mike and Julie pay in federal income taxes on 2 above? b. How much will Mike and Julie pay in federal income taxes on 3 above? (Note Remember that dividend income is taxed differently than ordinary income.) c. How much will Mike and Julie pay in federal income taxes on 4 above? d. How much will Mike and Julie pay in federal income taxes on 5 above? spreadsheet.) TABLE 1.2: Tax Rates and Income Brackets for Joint Returns TABLE (2018) Taxable Income Tax Rates Joint Returns 10% $0 to $19.750 12% $19.751 to $80 250 22% $80 251 to $171 050 24% $171051 to $326 600 32% $326,601 to $414,700 35% $414,701 to $622.050 37% Over $622 050