Exercise 7-31 (Algorithmic) (LO. 7) Emily, who is single, sustains an NOL of $10,600 in 2018. The loss is carried forward to 2019. For 2019, Emily's income tax information before taking into account the 2018 NOL is as follows: Adjusted gross income $53,000 Itemized deductions Medical [$6,360 (10% x $53,000)] $1,060 7,950 Taxes Interest expense on home mortgage (24,910) 15,900 Taxable income $28,090 The 2018 single standard deduction is $12,000; Emily's itemized deductions will exceed the 2019 single standard deduction (after adjustment for inflation). The medical expense AGI floor is scheduled to be 10% in 2019. How much of the NOL carryforward can Emily use in 2019, and what her adjusted gross income and her taxable income? Emily's adjusted gross income is $ and her taxable income is $ 42,400 5,490 X