Complete this assignment and submit answer and explanation of how you determined the answer in the textbox submission point onthis assignment.Scenario 1: The Single TeacherFiling Status: SingleAGI: $48,000Medical and Dental ExpensesHealth insurance premiums (after-tax): $1,200Prescription medications: $500Over-the-counter vitamins: $250Doctor co-pays: $800Gym membership (for general health): $600Total Qualifying Medical Expenses:Taxes You PaidState income taxes withheld: $2,200Property taxes on primary residence: $1,600Car registration (based on value): $120Interest You PaidHome mortgage interest (Form 1098): $4,000Student loan interest: $1,200Gifts to CharityCash donations to 501(c)(3): $400Value of used clothing donated to Goodwill: $150Donation to a political campaign: $100Casualty and Theft LossesNoneStandard Deduction for Single (2024): $14,600Key Learning Point: Should the taxpayer itemize or take the standard deduction?What is the best way to find out whether the standard or itemized deduction is higher? Will I need to complete the 1040 and appropriate other forms fully?