s Chapter 1 PROBLEM l:1-39 Tax Rates. Latesha, a single taxpayer, had the following income and deductions for the tax year 2018: Salary Business Income Interest income from taxable bonds Tax-exempt bond interest TOTAL INCOME $80,000 25,000 10,000 5,000 120,000 INCOME DEDUCTIONS: Business expenses Itemized deductions TOTAL DEDUCTIONS $ 9,500 20,000 29,500 a. Compute Latesha's taxable income and federal tax liability for 2018 (round to dollars b. Compute Latesha's marginal, average, and effective tax rates. c. For tax planning purposes, which of the three rates in Part b is the most important