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Mike and Julie Bedard are a working couple. They will file a joint income tax...

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Finance

Mike and Julie Bedard are a working couple. They will file a joint income tax return. This year they have the following taxable income:
1.$127 comma 000 from salary and wages(ordinary income).
2.$5 comma 000 in interest income.
3.$4 comma 000 in dividend income.
4.$5 comma 000 in profit from sale of a stock they purchased two years ago.
5.$3 comma 000 in profit from a stock they purchased this year and sold this year.
Use the federal income tax rates given in Table1.2, LOADING..., to work this problem.
a. How much will Mike and Julie pay in federal income taxes on 2 above?
b. How much will Mike and Julie pay in federal income taxes on 3 above? (Note: Remember that dividend income is taxed differently than ordinary income.)
c. How much will Mike and Julie pay in federal income taxes on 4 above?
d. How much will Mike and Julie pay in federal income taxes on 5 above?

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