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Mike and Julie Bedard are a working couple. They will le a joint income tax return. This year they have the following taxable income: 1.

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Mike and Julie Bedard are a working couple. They will le a joint income tax return. This year they have the following taxable income: 1. $127,000 from salary and wages (ordinary income). 2. $4,000 in interest income. 3. $1,000 in income. $3,000 in profit from sale of a stock they purchased 2 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 1.2..towork 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? a. The amount Mike and Julie will pay in federal income taxes on 2, their interest income, is s (Round to the nearest doillar.) Enter your answer in the answer box and then click Check Answer. 3 27 MacBook Air

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