Sue and Tim are married and have two dependent children (ages 5 and 19). Their 2020 tax and other related information is as follows: Total salaries $185,000 Bank account interest income 4,500 2,500 15,500 Interest on City of Detroit bonds Value of employer provided medical insurance Employer paid premiums for $50,000 of group term life insurance Dividend income from ABC stock Loan from Tim's parents Gift from Tim's parents 550 4,500 15,000 25,000 Total itemized deductions 32,000 a. Compute Sue and Tim's taxable income. Compute Sue and Tim's federal tax liability. b