7. [6 points) Consider the following tax tables. Table 1. Single Taxable income Tax Brackets and Rates, 2016 If taxable income is over- $0 $9,275 $37,650 but not over- the tax is: $9,275 10% of the amount over $0 $37,650 $927.50 plus 15% of the amount over $9,275 $91,150 $5,183.75 plus 25% of the amount over $37,650 $190,150 $18,558.75 plus 28% of the amount over $91,150 $413,350 $46,278.75 plus 33% of the amount over $190,150 $415,050 $119,934.75 plus 35% of the amount over $413,350 no limit $120,529.75 plus 39.6% of the amount over $415,050 $91,150 $190,150 $413,350 $415,050 Suppose someone had an annual Gross income of $52,000 and a standard deduction of $13,750. Calculate the following (Show the formulas or equations that you use to calculate them) a. Calculate the Total Tax owed: b. Effective Tax Rate: C. Last year, Bill owed $75,000 in taxes. Show your calculations to determine his original income (before deductions)