Required information Tableau Dashboard Activity 17-01: Home Ownership: Rent Versus Own (Static) Home Ownership: Rent Versus Own Your tax clients, Jack and Diane a married couple filing a joint return, fell in love with a new construction house for sale in their small Illinois hometown. The builder offers two options on the home: purchase with 20% down or rent the home. Assume the following facts and projections when considering the analysis: Jack and Diane both have steady jobs with a current AGI of $120,000. They anticipate annual AGI growth of 3%. The home has a purchase price of $200,000 and is located in an area with an expected annual property value growth rate of 5%. If Jack and Diane purchase the home, they will put 20% down and finance the remainder on a 30 year mortgage at 5.25%. Annual property taxes on the home are 2.6% of the home's value. If Jack and Diane rent the home, they will invest what would have been their 20% down payment into municipal bonds paying an annual interest rate of 4%. . The home rents for 1% of the assessed property value per month. Jack and Diane will use the home as their principal residence for all 10 years. . Regardless of their decision, Jack and Diane intend to contribute 10% of their AGI each year to their favorite qualified charitable organizations. Jack and Diane intend to move out of the area in 10 years to support their parents in retirement. Jack and Diane live in a state which imposes a tax on Federal AGI at 4.95%. Jack and Diane used the federal individual income tax rate brackets that were in effect in 2019 for all future years. Using 2019 income tax brackets and assuming a Standard Deduction increase of 1.67% each year, you have created the following Tableau visualization to help Jack and Diane make a decision. Note: the Detail pane provides a summation of values based on the selected Year and Option criteria. Use the Year sliders and Option checkboxes to update the visual during your analysis. After Tax Cash Flow Income Deductions Detail AGI 2,751,332 Muni Bond Int l.. 16,000 Mortgage Int -77,140 Char Cont -275,133 Prop Tax -65,455 State Tax -136,192 Property Tax: 65,455 Tax Cap -168,096 eduction -526,354 Itd Deduction -520,370 Std or ltd -577,884 Taxable Income 2,173,448 312,498 After Tax CF 1,669,310 House Payment Prin CF -330,753 99,149 Property Value 2,515,578 30.00% 30.00% Average Tax Rate 300K 200K 100K 25.00% 20.00% 2 4 6 8 10 Year 2 4 6 8 10 Year 25.00% 20.00% 300K 200K Taxable Income Effective Tax Rate Year 1 10 Option 100K 555 (All) Own Rent Home Ownership: Rent Versus Own - Part 3 (Static) From a tax perspective, would you advise Jack and Diane to Rent or Own the property? Provide detailed reasoning to your advice