1. Tax Computation Problem Cedil C. Seymour is a 64-year-old widower. He had income for 2017 as follows: Pension from former employer Interest income from Alto National Bank Interest Income on City of Alto bonds Dividends recelved from IBM stock held for over one year Collections on annuity contract he purchased from Great Life Insurance Social Security benefits Rent income on townhouse $39,850 5,500 4,500 2,000 5,400 14,000 9,000 The cost of the annuity was $46,800, and Cecl was expected to receive a total of 260 monthly payments of $450Ced has received 22 payments through 2017, Ceail's 40-year-old daughter, Sarah C. Seymour, borrowed $60,000 from Cecil on January 2, 2017. She used the money to start a nevw business. Cecil does not charge her interest because she could not afford to pay it, but he does expect to collect the prindipal eventually Sarah is living with Cecil until the business becomes profitable. Except for housing, Sarah provides her own support from her business and $1,600 in dividends on stocks that she inherited from her mother Other relevant information is presented below Expenses on rental townhouse: $2,800 1,000 2,000 750 700 Real estate taxes