What is your taxable income and tax liability based on the following information? Salaries - $120,000 Interest income $10,000 Dividend income - $4,000 Business income - $30,000 Retirement distributions - $20,000 Business expenses - $5,000 Tax exempt interest - $15,000 Itemized deductions $5,000 This individual is married filing jointly and has 4 dependents. Both the husband and wife are 64 years old and the children are under the age of 10 . What completing your calculations, please indicate what tax year you use to calculate taxable income and tax liability