Using the formula and methodology demonstrated in class, calculate the income tax for an individual who has: $174,566.00 of income from all sources $1,629.00 in Exclusions $10,771.00 in Adjustments $16,877.00 in below-the-line Deductions $2,461.00 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 $9,950 $9,951 to $40,525 Rate 10% 12% $40,526 to $86,375 22% $86,376 to $164,925 24% $164,926 to $209,425 32% $209,426 to $523,600 35% $523,601 and more 37%