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. $125,000 from salary and wages (ordinary income). 2. $5,000 in interest income. 3. $1,000 in dividend income. 4. $1,000 in profit from sale of a stock they purchased two years ago. 5. $1,000 in profit from a stock they purchased this year and sold this year. Use the federal income tax rates given in Table 1.2, , 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? 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. $125,000 from salary and wages (ordinary income). 2. $5,000 in interest income. 3. $1,000 in dividend income. 4. $1,000 in profit from sale of a stock they purchased two years ago. 5. $1,000 in profit from a stock they purchased this year and sold this year. Use the federal income tax rates given in Table 1.2, , 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