Question 12 (5.25 points) Mr. and Mrs. Twig are both under 65 years of age and have no dependents. Their only income for the year was his salary of $45,500. During the year they made only a nominal amount of disbursements of the type that would qualify as itemized deductions. What is their standard deduction on a 2020 joint return? 1) $12,200 2) $18,650 3) $24,400 (4) $24,800 5) None of these