Tess and Sean were married for twenty years. In 2019, they decided to separate and applied for divorce. During their marriage, they had Adam, who is 10 years old now. Sean has sole custody of Adam. Sean and Tess are both employed earning $45,000 annually. According to separation agreement, Tess has agreed to pay $8,000 a year as child support and $2,000 a year as spousal support. Assuming, Sean has no other taxable income and Tess has paid the support as agreed upon. Calculate Sean's taxable income for 2020? a. $40,000 b. $42,000 c. $47,000 d. $50,000 $40,000 $42,000 c. $47,000 $50,000