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Required information [The following information applies to the questions displayed below.] Marc and Mikkel are married and earned salaries this year of $65,800 and $22,800,

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Required information [The following information applies to the questions displayed below.] Marc and Mikkel are married and earned salaries this year of $65,800 and $22,800, respectively. In addition to their Salaries, they recelved interest of $350 from municipal bonds and $1,400 from corporate bonds. Marc contributed $3,400 : to a traditional individual retirement account, and Marc paid alimony to a prior spouse in the amount of $2,400 (under a divorce decree effective June 1, 2006). Marc and Mikkel have a 10-year-old adopted son, Mason, who lived with them throughout the entire year. Thus, Marc and Mikkel are allowed to claim a $2,000child tax credit for Mason. Marc and Mikkel paid $7,800 of expenditures that qualify as itemized deductions, and they had a fotal of $4,165 in federal income taxes withheld from their paychecks during the year. (Use the tax rate schedules.) Required: a. What is Marc and Mikkei's gross income? b. What is Marc and Mikkel's adjusted gross income? c. What is the total amount of Mare and Mikkers deductions from AG? d. What is Marc and Mikkel's taxable income? e. What is Marc and Mikkel's taxes payable or refund due for the year? What is the total amount of Marc and Mikkel's deductions from AGI

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