Determine the amount of taxes owed or the refund that would result in this situation: Filing Status: Married filing jointly Gross Income: $125,000 Adjustments to the Gross Income (subtract this amount from the Gross Income): $6,900 Itemized Deductions: $10,400 Credits and Withholdings (this amount was taken from their paycheck): $15,000 a. What is their adjusted gross income (AGI)? $ b. Use the simplified 2018 tax tables to determine if they should use their itemized deductions or take the standard deduction. They should ... $ take the standard deduction itemize c. What is their taxable income! $ *Remember to subtract the deduction to determine the taxable income. d. Use the simplified 2018 tax tables to determine how much tax the owe e. Refund or owe more? If they have a refund, enter the amount as a positive number. If they still owe, enter the amount as a negative number. $