You would like to have $850,000 in 34 years by making regular deposits at the end of each month in an annuity that pays 7% compounded monthly. The table below shows the 2016 marginal tax rates, standard deduction, and exemptions for a single person Complete parts (a) through (c) Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard Deduction Exemptions (per person) Single up to $9275 $9276 to $37,650 $37,651 to $91,150 $91,151 to $190,150 $190,151 to $413,350 $413,351 to $415,050 more than $415,050 $6300 $4050 Click the icon to view some finance formulas a. Determine the deposit at the end of each month. In order to have $850,000 in 34 years, you should deposit $ 510 each month (Round up to the nearest dollar) b. Assume that the annuity in part (a) is a tax-deferred IRA belonging to a man whose gross income in 2005 was $63,000 Use the table on the left to calculate. his 2005 taxes first with and then without the IRA. Assume the man is single with no dependents, has no tax credits, and takes the standard deduction The income tax with the IRA is $7.403.75 (Use the answer from part (a) to find this answer. Round up to the nearest cent as t needed) The income tax without the IRA is $ 8.933.75 (Use the answer from part (a) to find this answer Round up to the nearest cent as needed) c. What percent of his gross income are the man's federal taxes with and without the IRA? The man's taxes are 11.8% of his gross income with the IRA (Round to the nearest tenth as needed) The man's taxes are 142% of his gross income without the IRA (Round to the nearest tenth as needed)