Using the $4$ step process, compute Taxable Income based on the following items below: Salaries$150,000$Company Car from employer$10,000$Company Education Reimbursement from employer$15,000$Investment Interest Income$2,500$Traditional IRA Contribution$5,500$Qualified Business Income$50,000$Home Mortgage interest$5,500$Property Taxes$4,500$State Taxes$5,000$Local Taxes$2,500$Medical Expenses$3,000$Charitable Contributions$1,500$Standard Deduction $($Married Filing Jointly$)24,000$