Sherry Sarmento died on January 15, 2021. Her estate elected a November 30 year end. The executor projects that the estate will receive interest income of $55,000 by November 30, 2021, and will have no other gross income. In addition, it will have no deductions other than the personal exemption. The beneficiary of the estate is Troy Sarmento, a calendar year taxpayer who is projected to have $225,000 of taxable income in 2021, not including any distributions from the estate. In the first step, compute the taxable income to the estate and compute the overall tax costs for the estate and Troy assuming the executor distributes $42,100 to Troy prior to November 30, 2021. In the next step, compute the taxable income to the estate and the overall tax costs assuming the estate makes no distributions before November 30, 2021. (Do not round intermediary tax calculations. For each separate tax calculation, round your final answers that are entered into the input field to the nearest whole dollar. Complete all input fields. Enter a 0 for items with no balance.) Taxable income (estate) Tax: Total tax on the estate Incremental tax on Troy Total overall tax cost (1) With Distribution Taxable income (estate) Tax: (2) Without Distribution Reference Reference II LUAUDIO INCONTI 13. Not over $2,650 Total tax on the estate Incremental tax on Troy Total overall tax cost Over $2,650 but not over $9,550 Over $9,550 but not over $13,050 Over $13,050 HIIG LGA 13. 10% of taxable income $265.00, plus 24% of the excess over $2,650 $1,921.00, plus 35% of the excess over $9,550 $3,146.00, plus 37% of the excess over $13,050 If taxable income is: Not over $9,950 Over $9,950 but not over $40,525 Over $40,525 but not over $86,375 Over $86,375 but not over $164,925 Over $164,925 but not over $209,425 Over $209,425 but not over $523,600 Over $523,600 The tax is: 10% of taxable income. $995.00 + 12% of the excess over $9,950 $4,664.00 +22% of the excess over $40,525 $14,751.00 + 24% of the excess over $86,375 $33,603.00 +32% of the excess over $164,925 $47,843.00 + 35% of the excess over $209,425 $157,804.25 + 37% of the excess over $523,600 Print Done