Name: Problem 1.20.0 points) please show all your work! Charlie and Cheryl Matson are both 66 years of age and married. Cheryl is blind, and Charlie continues to work, eaming $68,000 in W-2 wages in 2020. Charlie and Cheryl have the following additional income: Interest income from bank account $2,000 Interest income from municipal bonds $3,100 2020 Social Security benefits received $16,000 LT capital gain from sale of Apple Stock $7,000 ST capital loss from sale of Nike Stock $3,500 The Matson's cannot itemize their deductions and take the permitted IRS standard deduction for 2020 Questions: 1) How much of the Social Security benefits are taxable (in $'s) to the Matson's for 2020? 2) What is the Matson's Adjusted Gross Income (AGI) for 2020? 3) What is the Matson's Taxable income for 2020? Name: Problem 1.20.0 points) please show all your work! Charlie and Cheryl Matson are both 66 years of age and married. Cheryl is blind, and Charlie continues to work, eaming $68,000 in W-2 wages in 2020. Charlie and Cheryl have the following additional income: Interest income from bank account $2,000 Interest income from municipal bonds $3,100 2020 Social Security benefits received $16,000 LT capital gain from sale of Apple Stock $7,000 ST capital loss from sale of Nike Stock $3,500 The Matson's cannot itemize their deductions and take the permitted IRS standard deduction for 2020 Questions: 1) How much of the Social Security benefits are taxable (in $'s) to the Matson's for 2020? 2) What is the Matson's Adjusted Gross Income (AGI) for 2020? 3) What is the Matson's Taxable income for 2020