Basic Fact PatternEvelyn, 35, and Arthur, 36, are married with two children and file a joint tax return for the year 2015. Evelyn has earned income of $15,000 and Arthur has earned income of $106,000. The remaining sources of their adjusted income is unearned and made up of interest and dividend income of $19,000. This adds up to an adjusted gross income of $140,000 for the couple, before incorporating the two fact patterns below. They have deductions from adjusted gross income (itemized deductions) of $25,000, before incorporating the two fact patterns below. They have two dependents and two exemptions.In addition to this information, . r you include/incorporate them into Evelyn and Arthurs tax information, you need to First Set of Additional FactsEvelyn and Arthur own a condominium in Nags Head, North Carolina. They use it for their 2 family vacations for a total of 20 days. They rent it out for a total of 230 days. The information for the condo is as follows:Rental income $25,000Mortgage interest $12,000Property taxes $ 6,000Utilities $ 1,000Repairs $ 500Depreciation $10,500Calculate the amount of taxable income or loss from the property and any other expenses that effect the taxable income calculation for Evelyn and Arthur. Show all your calculations. Take the result from this property and include/incorporate it into the above Basic Fact Pattern for Evelyn and Arthurs taxable income calculation.Second Set of Additional Facts Evelyn is self employed and not covered by any pension plan. Arthur is an employee of X Corporation and is covered by that companys pension plan. They both wish to contribute the maximum amount to their conventional IRAs. Determine how much they can each contribute and deduct to their conventional IRAs. Include this result in the base fact pattern at the beginning of this problem. Make sure that you have included the result from the First Set of Additional Facts above when you add the result from this part.Wilmer, a single taxpayer, is concerned about how he will fund his life style after he retires. He purchases an annuity for $100,000 that will begin to pay him $500 a month for the rest of his life starting when he reaches the age of 65 and ending upon his death. On January 1, 2015, his 65 birthday, the annuity begins.1) How much in taxable income must Wilmer recognize in 2015 from the payments of the annuity?2) If Wilmer dies on December 31, 2020, what is the effect on his 2020 taxable income?3) If Wilmer dies on December 31, 2040, what is the effect on his 2040 taxable inco