(Question 1-8) Brayden's job is going great and this past year he decided to work part-time,...

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(Question 1-8) Brayden's job is going great and this past year he decided to work part-time, so that he could go to school full-time for his master's degree. Brayden went to a business school, and tuition and fees were $25,000 for the year. He paid for his tuition and fees using a combination of savings, current income, scholarship, employer provided tuition assistance, and student loans. It is the end of the year and Brayden is filing his tax return. His total income and benefits are as follows: Wages: $50,000 (as reported on his W2) Employer provided tuition assistance: $5,000 Scholarship: $8,000 Student loan proceeds: $12,000 In addition to tuition, Brayden had the following expenditures: Student loan interest: $3,000 (as reported to Brayden by his lender on Form 1098-E) Books: $1,500 Rent: $14,000 It is now time for Brayden to complete his tax return. Brayden is 28 years old and is in a relationship with Ashely, planning to get married next year. 7. Calculate Brayden's Taxable Income. (Question 1-8) Brayden's job is going great and this past year he decided to work part-time, so that he could go to school full-time for his master's degree. Brayden went to a business school, and tuition and fees were $25,000 for the year. He paid for his tuition and fees using a combination of savings, current income, scholarship, employer provided tuition assistance, and student loans. It is the end of the year and Brayden is filing his tax return. His total income and benefits are as follows: Wages: $50,000 (as reported on his W2) Employer provided tuition assistance: $5,000 Scholarship: $8,000 Student loan proceeds: $12,000 In addition to tuition, Brayden had the following expenditures: Student loan interest: $3,000 (as reported to Brayden by his lender on Form 1098-E) Books: $1,500 Rent: $14,000 It is now time for Brayden to complete his tax return. Brayden is 28 years old and is in a relationship with Ashely, planning to get married next year. 7. Calculate Brayden's Taxable Income.