Question: please can you solve this problem. I sumbitted this problem this morning, no one has solved it for me! can you please solve it ASAP.

 please can you solve this problem. I sumbitted this problem this
please can you solve this problem. I sumbitted this problem this morning, no one has solved it for me!
can you please solve it ASAP.

Accountancy 503 May 26, 2020 Graham, a single, calendar year individual, had a rather good year in 2019. He generated business income of $220,000 and had $79,000 of business deductions, including deductible meals of $4,250 (before the required 50% reduction). Conservative Graham had taxable interest income of $18,600 and no other taxable income. Graham's self-employment tax for 2019 is $20,222. Graham can deduct one-half of this in arriving at his adjusted gross income. Graham's deductions and related information are as follows: QBI deduction in arriving at AGI $26,603 Standard deduction 18,350 Itemized deductions 17,700 Dependents (Graham's mother, ager 75) Create an Excel spreadsheet to: Calculate Graham's taxable income and his gross federal income tax. Based on your answers, calculate Graham's: Average tax rate? Effective tax rate? Marginal tax rate? 1 Basic Tax Formula: Income as most broadly conceived Minus: Exclusions Equals: Gross income Minus: Deductions for AGI Equals: Adjusted gross income Minus: Larger of itemized deductions or standard deduction Minus: QBI deduction Equals: Taxable income Apply tax rates Equals gross income tax Minus: Credits and prepayments Equals: Tax due or refund

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