O words Question 14 15 pts Brad earns $200,000 in pretax book income for 2018. This amount includes $10,000 interest income from a municipal bond. Also included is an installment sale in the amount of $50,000 that will be paid over the course of 5 years at the rate of $10,000 per year from 2018 through 2022. For purposes of this question only, assume Brad's tax rate is 25%. 1) Explain the effect of the interest income and the installment sale on his taxable income. 2) What is Brad's taxable income for 2018? 3) What is Brad's tax liability for 2018? 3) What is Brad's deferred tax expense? 4) What is Brad's total tax expense? HTML Editor BIU A- IEE**, VT 12pt Paragraph o . O words Question 14 15 pts Brad earns $200,000 in pretax book income for 2018. This amount includes $10,000 interest income from a municipal bond. Also included is an installment sale in the amount of $50,000 that will be paid over the course of 5 years at the rate of $10,000 per year from 2018 through 2022. For purposes of this question only, assume Brad's tax rate is 25%. 1) Explain the effect of the interest income and the installment sale on his taxable income. 2) What is Brad's taxable income for 2018? 3) What is Brad's tax liability for 2018? 3) What is Brad's deferred tax expense? 4) What is Brad's total tax expense? HTML Editor BIU A- IEE**, VT 12pt Paragraph o