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In: AccountingAlfred E. Old and Beulah A. Crane, each age 42, married onSeptember 7, 2016. Alfred...Alfred E. Old and Beulah A. Crane, each age 42, married onSeptember 7, 2016. Alfred and Beulah will file a joint return for2018. Alfred’s Social Security number is 111-11- 1112. Beulah’sSocial Security number is 123-45-6789, and she adopted “Old” as hermarried name. They live at 211 Brickstone Drive, Atlanta, GA30304.Alfred was divorced from Sarah Old in March 2016. Under thedivorce agreement, Alfred is to pay Sarah $1,250 per month for thenext 10 years or until Sarah’s death, whichever occurs first.Alfred pays Sarah $15,000 in 2018. In addition, in January 2018,Alfred pays Sarah $50,000, which is designated as being for hershare of the marital property. Also, Alfred is responsible for allprior years’ income taxes. Sarah’s Social Security number is123-45-6788.Alfred’s salary for 2018 is $150,000, and his employer, Cherry,Inc. (Federal I.D. No. 98-7654321), provides him with group termlife insurance equal to twice his annual salary. His employerwithheld $24,900 for Federal income taxes and $8,000 for stateincome taxes. The proper amounts were withheld for FICA taxes.Beulah recently graduated from law school and is employed by LegalAid Society, Inc. (Federal I.D. No. 11-1111111), as a publicdefender. She receives a salary of $42,000 in 2018. Her employerwithheld $7,500 for Federal income taxes and $2,400 for stateincome taxes. The proper amounts were withheld for FICA taxes.Alfred and Beulah had interest income of $500. They receive a$1,900 refund on their 2017 state income taxes. They itemizeddeductions on their 2017 Federal income tax return (total of$15,000). Alfred and Beulah pay $4,500 interest and $1,450 propertytaxes on their personal residence in 2018. Their charitablecontributions total $2,400 (all to their church). They paid salestaxes of $1,400, for which they maintain the receipts. Both spouseshad health insurance for all months of 2018 and do not want tocontribute to the Presidential Election Campaign. Compute the Olds’net tax payable (or refund due) for 2018. If you use tax forms foryour solution, you will need Form 1040 and Schedules A