Question: Problem 3-39 (Algorithmic) (LO. 5, 6, 9) Preston and Anna are engaged and plan to get married. Preston is a full-time student and earns $5,800

Problem 3-39 (Algorithmic) (LO. 5, 6, 9)

Preston and Anna are engaged and plan to get married. Preston is a full-time student and earns $5,800 from a part-time job. With this income, student loans, savings, and nontaxable scholarships, he is self-supporting. For the year, Anna is employed and reports $70,400 in wages. a. Compute the following:

	Preston Filing Single	Anna Filing Single
Gross income and AGI	$5,800	$70400
Standard deduction
Taxable income	$	$
Income tax	$	$

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