Attempts 0 0 Keep the Highest 0/3 4. Ch03 Financial Planning Exercise 2 Chapter 3 Financial Planning Exercise 2 Estimating taxable income, tax liability, and potential refund Charlotte Taylor is 24 years old and single, aves in an apartment, and has no dependents. Last year (2018) she earned $51,000 as a sales assistant for Office Furniture Rentals $6,860 of her wages was withheld for federal income taxes. In addition, she had interest income of $220 The standard deduction in 2018 was $12,000 for single. Note that personal exemptions were suspended for 2018. Refer to Exhibit 3.3 for the appropriate tax rate schedule a Estimate her taxable income S Estimate her tax liability. Round the answer to the nearest cent. Use unrounded values in later calculations (Hint: Use the tax rate schedules given in Exhibit 3.3 to determine her tax liability) Estimate her tax refund or tax owed. Enter tax oned, if any, as negative amount. Round the answer to the nearest cent eBook Chapter 3 Financial Planning Exercise 2 Estimating taxable income, tax liability, and potential refund Charlotte Taylor is 24 years old and single, Sves in an apartment, and has no dependents. Last year (2016) she earned $51,000 as a sales assistant for Office Furniture Rentals; 56,860 of her wages was withheld for federal income taxes. In addition, she had interest income of $220. The standard deduction in 2018 was $12,000 for single. Note that personal exemptions were suspended for 2018. Refer to Exhibit 3.3 for the appropriate tax rate schedule. a. Estimate her taxable income. h. Estimata her tax lability. Round the answer to the nearest cent. Use unrounded values in later calculations. (Hint: Use the tax rate schedules given in Exhibit 3.3 to determine her tax liability.) Estimate her tax refund or tax owed. Enter tax owed, if any, as negative amount. Round the answer to the nearest cent