Tim and Sarah Lawrence are married and file a joint return. Tims Social Security number is 123-45-6789, and Sarahs Social Security number is 111-11-1111. They reside at 100 Olive Lane, Covington, LA 70434. They have two dependent children, Sean and Debra, ages 12 and 16, respectively. Seans Social Security number is 123-45-6788, and Debras Social Security number is 123-45-6787. Tim is a self-employed businessperson (sole proprietor of an unincorporated business), and Sarah is a corporate executive. Tim has the following income and expenses from his business. Gross income $325,000 Business expenses 201,000 Records related to Sarahs employment provide the following information. Salary $145,000 Unreimbursed travel expenses (including $200 of meals) 1,100 Unreimbursed entertainment expenses 500 Other pertinent information for the tax year includes the following. Proceeds from sale of stock acquired on July 15, 2017 (cost of $12,000), and sold on August 1, 2017 $ 9,800 Proceeds from sale of stock acquired on September 18, 2016 (cost of $5,000), and sold on October 5, 2017 3,800 Wages paid to full-time domestic worker for housekeeping and child supervision 10,000 Interest income received 7,000 Total itemized deductions (not including any potential deductions above) 27,900 Federal income tax withheld 31,850 Estimated payments of Federal income tax 34,000

Compute the net tax payable or refund due for Tim and Sarah Lawrence for 2017.