Question 3.3.(TCO B) Given the following data, calculate the adjusted gross income (AGI) forDavid Brown's family. What are their total itemized deductions? How many personal exemptions do they receive, and how much does that save them in taxes if each exemption is worth $3,650 and they are in the 15 % marginal tax bracket? David is married and hastwo dependent children. Show all work for full credit. Make sure you account for each piece of data given. (10 points for each part of the question for a total of 30 points)

W-2 Wages$50,000

Mortgage Interest Paid6,500

Dividends Received500

Long-Term Capital Gains2,000

Long-Term Capital (Loss)500

Interest Income50

State Tax Refund300

Deductible IRA Contribution5,000

Property Taxes Paid1,200

Rental Prop. Passive Income2,500

Charitable Contributions5,000

Medical Expenses4,500

Alimony Paid to Ex Wife4,000

Unreimbursed Employee

Misc. Expenses900