Prepare the tax formula based on the activity from 2022 via excel. Gross income should come out to $104600, AGI of $98600 and Taxabke income of $72700

Grace is not married and has her disabled and dependent mother living with her. This qualifies Grace for head-of-household filing status. Recall that Example 6 established that Grace has taxable income of $33,300. In addition, assume that you have the following information: income tax withheld, $3,000; estimated tax payments, $600; and dependent tax credit, $500. Grace's net taxes payable is computed as follows: Income tax (from 2023 Tax Rate Schedule, for head of household, Appendix A) Less: Tax credits and prepaymentsDependent tax credit Income tax withheld Estimated tax payments Net taxes payable or (refund due)