Response to the following problems:
1. Exemption Deduction
Isabel is married, but files separately from her husband in 2014. She claims one personal exemption and two dependents on her tax return. Compute Isabel's exemption deduction if her AGI is $194,885.
2. Exemption Deduction
Megan files as a single taxpayer. She claims one personal exemption and one dependent. Compute Megan's 2014 exemption deduction if her AGI is:
a. $284,500.
b. $392,600.
c. $182,950.
PLEASE SHOW CALCULATIONS ON HOW YOU ARRIVED AT YOUR ANSWER.