Problem 1-2 (Algorithmic) The Tax Formula for Individuals (LO 1.3) Rahul and Ruby are married taxpayers. They are both under age 65 and in good health. For 2020 they have a total of $109,900 in wages and $260 in interest income. Rahul and Ruby's deductions for adjusted gross income amount to $1,775 and their itemized deductions equal $10,900. They claim two exemptions for the year on their joint tax return. Table for the standard deduction Filing Status Standard Deduction $12,400 Single Married, filing jointly 24,800 Married, filing separately 12,400 Head of household 18,650 Qualifying widow(er) 24,800 a. What is the amount of Rahul and Ruby's adjusted gross income? b. In order to minimize taxable income, Rahul and Ruby will in the amount of $ c. What is their taxable income