None 10. Pete and Liz are married and had gross earnings of $78,450 last year. They have threedependent children and did not have enough deductible expenses to bother itemizingtheir deductions.a. How many personal exemptions can they claim?b. What is their taxable income for the year?$c. What tax bracket are they in?$d. Calculate Dave and Jenni's federal income tax.$e. What percent of their taxable income dothey pay in federal income taxes?$f. What percent of their gross income dothey pay in federal income taxes?

The concept of federal income tax in the United States is a tax levied by the federal government on…

Answered: 10. Pete and Liz are married and had…

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