Samantha is a single individual with no dependents. In 2018, she had total income of $162,000, of which $9,500 is from municipal bond interest. She has FOR AGI deductions of $12,000, itemized deductions of $9,800 and tax credits of $1,200. She also made estimated tax payments of $25,000. (Hint: Refer to the tax formula for individuals in Helpful Formulas from the Book PDF.) a.Compute Samanthas taxable income for 2018. b.Compute Samanthas tax due for 2018. c.Assume that Samantha is a C Corporation instead of an individual and all of the deductions are business related. What would the corporations tax due be for 2018? 3) Goliath Supplies Inc. (a C Corp) reports total net income of $575,000 in 2018. This includes $25,000 of income from 5.00% Jackson County municipal bonds (muni bond interest is not taxable). Thus, the Corporations taxable income is equal to $550,000. a.What is Goliaths tax liability for 2018? b.What are Goliaths marginal, average and effective tax rates, respectively? c.If equivalent taxablebonds pay 6.50% interest, what is the implicit tax rate for the Jackson County bonds? (see handout for Implicit Tax Rate) d.Did Goliath make a good choice to invest in the municipal bonds instead of the taxable bonds? 4) Joe owns a 25% interest in an S Corporation that earned $250,000 in 2018. He also owns 20% of the stock in a C Corporation that earned $400,000 during the year. The S Corporation distributed $50,000 to Joe, and the C Corporation paid dividends of $15,000 to Joe. How much income must Joe report from these businesses on his individual income tax return? (Hint: A C Corporation is a separate taxable entity. An S Corporation is a flow-through entity.)