Peter and Denise are married and have two dependent children (ages 12 and 13). In 2020, they had the following income and losses: losses: Total salaries $150,000 Bank account interest 25,000 Dividend income 5,000 Short-term capital gains 4,000 Short-term capital losses (1,500) They also incurred the following expenses: Qualified medical expenses State income taxes paid Property taxes on home Qualified residence interest Investment interest expense Cash charitable contributions $ 8,000 12,000 2,300 9,000 7,500 15,000 Compute Peter and Denise's taxable income and federal tax liability for 2020