During 2018, the Smiths and the Joneses both filed joint tax returns. For the tax year ended December 31, 2018, the Smiths' taxable income was $105,000, and the Jones had total taxable income of $52,500 a. Using the federal tax rates given in Table 1.2, E, for married couples filing joint returns, calculate the taxes for both the Smiths and the Joneses. b. Calculate and compare the ratio of the Smiths' to the Joneses' taxable income and the ratio of the Smiths' to the Joneses' taxes. What does this demonstrate about the federal income tax structure? a. Using the federal tax rates given in Table 1.2 for married couples filing joint returns, the taxes for the Smiths is $. (Round to the nearest dollar.) - X Data table (Click the icon here in order to copy the contents of the data table below into a spreadsheet.) TABLE 1.2: Tax Rates and Income Brackets for Joint Returns (2018) Taxable Income Tax Rates Joint Returns 10% S0 to $19,050 12% $19,051 to $77,400 22% $77,401 to $165,000 24% $165,001 to $315,000 32% $315,001 to $400,000 35% $400,001 to $600,000 37% Over $600,000 Print Done Stefani German, a 40-year-old woman, plans to retire at age 65, and she wants to accumulate $400,000 over the next 25 years to supplement the retirement programs provided by the federal government and her employer. She expects to earn an average annual return of about 6% by investing a low-risk portfolio containing about 20% short-term securities, 30% common stock, and 50% bonds. Stefani currently has $30,290 that at an annual rate of return of 6% will grow to about $130,000 by her 65th birthday (the $130,000 figure is found using time value of money techniques, Chapter 4 Appendix.) Stefani consults a financial advisor to determine how much money she should save each year to meet her retirement savings objective. The advisor tells Stefani that if she saves about $18.23 each year, she will accumulate $1,000 by age 65. Saving 5 times that amount each year, $91.15, allows Stefani to accumulate roughly $5,000 by age 65. a. How much additional money does Stefani need to accumulate over time to reach her goal of $400,000? b. How much must Stefani save to accumulate the sum calculated in part a over the next 25 years