. Using the formula and methodology demonstrated in class, calculate the income tax for an individual who has: $160,307.00 of income from all sources $4,807.00 in Exclusions $4,272.00 in Adjustments $8,722.00 in below-the-line Deductions $1,872.00 in Credits For the purposes of this question, assume this is an individual taxpayer. Also assume a standard deduction of $12,550.00. In calculating the tax, use the following tax rates and brackets: Income Up to $9,875 $9,876 to $40,125 $40,126 to $85,525 $85,526 to $163,300 $163,301 to 207,350 $207,351 to $518,400 $518,401 and more Rate 10% 12% 22% 24% 32% 35% 37%