$3.$ Determine the following for the situations below a$.$ Total tax owed b$.$ Effective tax rate based on taxable income. Comment on why they are so different, discussing whether you believe the differences are justified. Full reconciliation of capital gains where appropriate d$.$ Full reconciliation of QBID savings where appropriate c$.$ No bonus Single, no kids $124,00000$ Take bonus Single, no kids $124,000001,95002,2003600$ No Machine Single, no kids $124,000855,00001,9505,3002,200282,3401,9508,9002,2004604,500$ Status Wage Income Long$-$term capital gain State income taxes paid State sales taxes paid Property taxes paid Medical costs paid Charitable contributions Mortgage interest Snake Oil business: SST$$ yes or no Revenues Cost of goods sold All other expenses $($except depreciation$)$ Cost of new $5-$year asset, purchased May Depreciation taken Wages paid $($part of all other expenses$)$ Assets of business $($no other depreciaiton$)$ Na $218,00029,000105,000$ Yes $3,300,000350,0001,750,0001,200,000$ Max possible $12,5001,150,000$ Yes $3,300,000350,0001,750,0001\mathrm{.}200,000$ No $179,$ no bonus $12,5001,150,000$ None $31,00052,000$