Question: Problem 3-47 (LO. 1, 3, 7) Terri, age 16, is a dependent of her parents. During 2022, Terri earned $5,000 in interest income and $3,000

Problem 3-47 (LO. 1, 3, 7) Terri, age 16, is a dependent of her parents. During 2022, Terri earned $5,000 in interest income and $3,000 from part-time jobs. Click here to access the 2022 tax rate schedule. a. What is Terri's taxable income? b. How much of Terri's income is taxed at her parent's rate? At her rate? c. Can the parental election be made? Why or why not? The parental election be made because Terri's income solely from interest and dividends

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