Required Information [The following information applles to the questlons displayed below.] Demarco and Janine Jackson have been marrled for 20 years and have four children who qualify as thelr dependents (Damarcus, Jasmine, Michael, and Candice). The Jacksons file a Jolnt tax return. The couple recelved salary income of $94,000 and qualified business income of $21,000 from an Investment in a partnership, and they sold their home this year. They Inltlally purchased the home three years ago for $255,000 and they sold it for $305,000. The gain on the sale quallfied for the exclusion from the sale of a principal residence. The Jacksons incurred $18,700 of Itemized deductions, and they had $4,000 withheld from thelr paychecks for federal taxes. They are also allowed to clalm a child tax credit for each of thelr children. However, because Candice was 18 years of age at year end, the Jacksons may clalm a child tax credit for other qualifying dependents for Candice. (Use the tax rate schedules.) a. What is the Jacksons taxable Income, and what is thelr tax Ilabillty or (refund)? Note: Do not round Intermedlate calculatlons. 2023 Tax Rate Schedules Individuals Schedule X-Single Schednle V-1-Married Filing .Inintlv or Oualifving surviving snonse