singepew wherecord12.000 walincome during 2021, of which $7,000 ww qualified and income Using the true schedules in Appendix of the textbook, 11 Anyw old and Michael who will be claimed so dependent on ain's retum Michael med $4.500 in interest income from a savings account in 2021. Calculate the malability with Michael parton is 2021 income tax return. For this calculation, as me that so'marginalta rotels 24% 8 Question 1: 9 Jason is a single taxpayer who recognized $125,000 of taxable income during 2021, of which $7,000 w 10 calculate Jason's 2021 income tax liability, 11 12 Question 2: 13 Assume that Jason has a 14 year old son named Michael who will be claimed as a dependent on Jason's 14 income tax liability which Michael will report on his 2021 income tax return. For this calculation, ass 15 U 16 ome during 2021, of which $7,000 was qualified dividend income. Using the tax rate schedules in Appendix C of the textbook, eclaimed as a dependent on Jason's return. Michael earned $4,500 in interest income from a savings account in 2021. Calculate the tax return. For this calculation, assume that Jason's marginal tax rate is 24%. U23 1 2 AC 371 Chapter 4 Homework Assignment 4 ***Show all work to get credit Please submit your answers and all supporting calculations for each question on the "Homework Calculations' tab in this Excel file, using the upload link provided with the assignment po Blackboard. Plewe include your name, your section number, and your CWID at the top of the Homework Calculations' tab in this Excel file # Question 1: Jason is ingetapaver who recognised $125,000 of taxable income during 2021, of which $7,000 was qualified dividend income Using the tax rate schedules in Appendix of the textbou 10 calculate lason's 2021 income tax liability 11 12 Question 2 13 Assume that Jason has a 14 year old son named Michael who will be claimed asa dependent on Jason's return. Michal earned $4,500 in interest income from a savings account in 2021. Cal 14 income tax liability which Michael will report on his 2021 income tax return. For this calculation, assume that Jason's marginal tax rate is 24% 15 16 17 38 19 23 21 22