Ms. Gen Graves is employed by a large public corporation. Her gross salary for the year 2016 is $75,000. Ms. Gravess employer withheld the following amounts from her compensation:

Federal Income Tax Deducted at Source $ 7,500

Union Dues $ 750

Ms. Graves is single and is age 27.

Other Information for 2016:

1. On June 7, she sold 300 shares of Emera for $35 per share. She originally purchased the 300 shares in 2013 for $18 each.

2. She received cash dividends of $0.28 for each of the 300 Emera shares that she owned. These dividends are considered eligible.

3. She won $15,000 in Lotto Max.

4. She contributed $3,000 to her Registered Retirement Savings Plan.

5. She earned interest of $100 on a savings account at Bergengren Credit Union.

6. She has total non-refundable tax credit amounts of 12,724

Required:

1. Determine Ms. Graves Federal Tax due (refund) for the 2016 taxation year. Show your work and clearly label:
   1. Total Income
   2. Net Income
   3. Taxable Income
   4. Federal Tax based on Tax Bracket (use table on page 85)
   5. Net Federal Tax
   6. Total tax due (or refund)

You may ignore Provincial Taxes.

2. What is her marginal tax rate?