EXCES 2 (Algorithmic) (LO. 2) Compute the standard deduction for the following taxpayers. If an amount is zero, enter "o". Click here to access the standard deduction table to use. a 3,510 7 X Elie is 15 and claimed as a dependent by her parents. She has $1.650 in dividends income and $3.160 in wages from a part-time job. b. Ruby and Woody are married and file a joint tax return. Ruby is age 66. and Woodys is 69. Their taxable retirement income is $16,720. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her eamed income is $570, and her interest income is $560. d. Frazier age 58, is married but is filing a separate return. His wife itemizes her deductions Book Calculator Exercise 3-21 (Algorithmic) (LO. 2) Compute the standard deduction for the following taxpayers. If an amount is zero, enter "o". Click here to access the standard deduction table to use. a. 3,510 x Ellie is 15 and claimed as a dependent by her parents. She has $1.850 in dividends income and $3.160 in wages from a part-time job. b. Ruby and Woody are married and file a joint tax return. Ruby is age 66. and Woody is 69. Their taxable retirement income is $16.720. Shonda is age 68 and single. She is claimed by her daughter as a dependent. Her earned income is $570, and her interest income is $560. d. Frazier, age 58. is married but is filing separate return. His wife itemizes her deductions, C A major component of the tax formula is the standard deduction. The effect of the standard deduction is to exempt part of a taxpayer's inco from Federal income tax liability