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Mr. Coleman, an unmarried individual, has the following income items: Interest income $ 25,200 Schedule net profit 56,120 He has $9,800 itemized deductions and no

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Mr. Coleman, an unmarried individual, has the following income items: Interest income $ 25,200 Schedule net profit 56,120 He has $9,800 itemized deductions and no dependents. Mr Coleman's Schedule C income is qualified business income (non-service). Required: Compute Mr. Coleman's income tax. Assume the taxable year is 2021 Use Individual Tax Rate Schedules and Standard Deduction Table (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Answer is not complete. AG! Taxable incomo Amount 5 71.520 $ 57 546 Income tax Married filing jointly and surviving spouses Married filing separately Head of household Single $25,100 12,550 18,800 12,550 Over $164.925 but not over $209,425 Over $209,425 but not over $314,150 Over $314,150 $33,603.00+ 32% of excess $47,843.00 + 35% of excess over $209,425 $84,496.75 +37% of excess over $314,150 Head of Household If taxable income is Not over $14,200 Over $14,200 but not over $54,200 Over $54,200 but not over $86,350 Over $86,350 but not over $164.900 Over $164.900 but not over $209,400 Over $209,400 but not over $523,600 Over $523,600 The tax is 10% of taxable income $1.420.00 + 12% of excess over $14,200 $6,220.00 + 22% of excess over $54,200 $13,293.00 +24% of excess over $86,350 $32.145.00+32% of excess over $164.900 $46,385.00 + 35% of excess over $209,400 $156,355.00 + 37% of excess over S523,600 Single If taxable income is Not over $9.950 Over $9.950 but not over $40,525 Over $40,525 but not over $86,375 Over $86,375 but not over $164.925 Over $164.925 but not over $209,450 Over $209.450 but not over S523.600 Over S523,600 The tax is 10% of taxable income $995.00 + 12% of excess over $9.950 ($4,664.00 +2296 of excess over $40,525 $14,751.00 - 24% of excess over $86,375 $33,603.00 - 32% of excess over $164.925 $47,843.00 - 35% of excess over $209,425 $157 804254370 ON

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