Question: Exercise 10-22 (Algorithmic) (LO. 8) Pedro, who is a single taxpayer, had AGI of $336,000 for 2016. He incurred the following expenses during the year:

Exercise 10-22 (Algorithmic) (LO. 8)

Pedro, who is a single taxpayer, had AGI of $336,000 for 2016. He incurred the following expenses during the year:

Medical expenses before 10%-of-AGI limitation $14,180

State and local income taxes $10,080

Real estate taxes $2,016

Home mortgage interest $16,800

Charitable contributions $4,032

Deductible investment interest expense $1,512

Compute the amount of Pedro's itemized deductions after any applicable reductions. Round your computations to the nearest dollar and use rounded amounts in subsequent calculations. $

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