Problem 1-9 The Tax Formula for Individuals, Filing Status and Tax Computation, The Standard Deduction (LO 1.3, 1.5, 1.8) Brock, age 50, and Erin, age 49, are married with three dependent children. They file a joint return for 2020. Their income from salaries totals $50,000, and they received $8,000 in taxable interest, $5,000 in royalties, and $3,000 in other ordinary income. Brock and Erin's deductions for adjusted gross income amount to $2,500, and they have itemized deductions totaling $19,250. Table for the standard deduction Filing Status Single Standard Deduction $12,400 Married, filing jointly 24,800 Married, filing separately 12,400 Head of household 18,650 Qualifying widow(er) 24,800 Click here to access the tax tables. Calculate the following amounts: a. Gross income 66,000 b. Adjusted gross income 63,500 c. Itemized deduction or standard deduction amount 24,800 d. Taxable income x e. Income tax liability (before any credits)