Instructions For this assignment we will be looking at personal income taxes. In 2017 it was normal to be able to have "deductions" and a "personal exemption" deducted from one's total income before determining their taxable income. For the purposes of this activity, we will consider only a "single" filing status. In 2017, the standard deduction was $6,350 and the personal exemption was $4,050. So, an individual who brought in a total income of $30,000 would have to pay taxes on $19,600 ($30,000-$6,350-$4050). The $19,600 represents their taxable income. Note: Taxable Income refers to income after accounting for the standard deduction and personal exemption. Total Income refers to income prior to the standard deduction and personal exemption. Grading: Category Part 1: Hypothetical Tax Code 1 Part 2: Hypothetical Tax Code 2 Part 3: House Tax Plan Overall Submission TOTAL Details 5 questions, 3 points each. Points 15 6 questions, 2.5 points each. 15 15 5 50 5 questions, 3 points each. Format, Presentation, Readability