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Problem 14-21 (Algo) [LO 14-7] Mr. and Mrs. Palio celebrated the birth of their third child on November 18. a. Compute the effect of this
Problem 14-21 (Algo) [LO 14-7] Mr. and Mrs. Palio celebrated the birth of their third child on November 18. a. Compute the effect of this event on their tax liability, assuming that their AGI was $100,400, and their taxable income before considering the new dependent was $79,900. b. Compute the effect of this event on their tax liability, assuming that their AGI was $419,000, and their taxable income before considering the new dependent was $352,000. c. Compute the effect of this event on their tax liability, assuming that their AGI was $837,000, and their taxable income before considering the new dependent was $721,000. Assume the taxable year is 2019. Complete this question by entering your answers in the tabs below. Required A Required B Required Compute the effect of this event on their tax liability, assuming that their AGI was $100,400, and their taxable income before considering the new dependent was $79,900. (If there is no effect, select "no effect" from dropdown.)
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