Mr. Hoosier has gathered all these data about his finances. Salary Taxable interest Municipal Bond interest Total Itemized deductions $159,000 $5600 $15,000 $9500 The personal exemption is $4700. The standardized deduction for a single filer is 5000. Single Filer If Taxable income is Then tax is: 0-8000 8000-35,000 35000- 55,000 55000-150,000 150000 - 200000 200000 and over 10% of the amount over 0 800 + 15% of the amount over 8000 4850 + 20% of the amount over 35000 8850 + 30% of the amount over 55000 37350 +35% of the amount over 150000 54850 + 40% of the amount over 200000 Married filing jointly: If Taxable Income is Then tax is: 0-8000 8000- 35,000 35000- 55,000 55000-150,000 150000 - 200000 200000 and over 10% of the amount over 0 800 + 18% of the amount over 8000 4850 + 22% of the amount over 35000 8850 + 35% of the amount over 55000 37350 +37% of the amount over 150000 54850 + 45% of the amount over 200000 Please answer each question and you must show your work in order to get partial credit. a. What is his tax? b. His average effective tax rate C. His average tax rate d. His marginal tax rate e. Assume he discovers that he is eligible for a 600 tax deduction. How much does his tax liability fall with that addition? f. Now he discovers that he is eligible for a $600 tax credit. How much does his tax liability fall due to this credit