USE THE $2023$ TAX SCHEDULES AND TABLES. Mr$.$ Carlos Santos and Mrs$.$ Velez are married, and they are $50$ and $66$ years old respectively. Their income consisted of the following sources.

Salaries: Mr$.$ Santos $$65,000$ and Mr$.$ Velez $ $31,000$

Interest received in Federal Bonds $$5,000$

Interest received in Idaho State Bonds $$10,000$

Interest received in private Certificate Deposit Accounts $$3,000$

Gambling Winnings $$6,000$

Gift received by their aunt $$8,000$

Note: Mr$.$ Santos and Mrs$.$ Veles have withholding tax payments of $$4,000$ and $3,000,$ respectively.

Please present a computation or request explanation for each item.

Make the follows calculations:

a$.$ Gross Income $($Inclusions$)6$ points

b$.$ Adjusted Gross Income: $2$ points.

c$.$ Standard Deduction amount: $2$ points

d$.$ Additional Standard Deduction $($if any$)$: $2$ points

e$.$ The taxable income is: $(6$ points$)$

f$.$ The Total tax liability: $($Please$,$ use the $2023$ tax schedules$)$ and indicate what is the marginal tax rate, and average tax rate $(6$ points$)$

i$.$ Total Tax Liability and computation

ii$.$ Marginal Tax Rate

iii. Average tax rate

g$.$ The tax payment or refund: $(4$ points$)$