4. Mary W atson is 24 years old and single, lives in an apartment, and has no dependents. She expects to earn $50,000 as a sales assistant. $4,500 of her wages will be withheld for year 2014. She also expected to have interest income $500. Estimate her taxable income, tax liability, and tax refund or tax owed for year 2014 based on 2014 tax rates distributed in the class (personal exemption for 2014 is $3,950, and standard deduction is $6,200.)