Required information The following information applies to the questions displayed below. Marc and Michelle are married and earned salaries this year of $72,400 and $15,150, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $1,550 from corporate bonds. Marc contributed $3,550 to an individual retirement account, and Marc paid alimony to a prior spouse in the amount of $2,550. Marc and Michelle have a 10-year-old son, Matthew, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $2,000 child tax credit for Matthew. Marc and Michelle paid $8,100 of expenditures that qualify as itemized deductions and they had a total of $6,940 in federal income taxes withheld from their paychecks during the course of the year. (Use the tax rate a. What is Marc and Michelle's gross income? Description Amount Marc's salary Michelle's salary Corporate bond interest 72,400 15,150 1,550 Gross income 89,100