Eileen files as head of household and earns a salary of $75,000. She has a 4 yr old dependent daught

Eileen files as head of household and earns a salary of $75,000. She has a 4 yr old dependent daughter for whom she pays $5,000 in annual day care expenses so that she can work. Eileen’s employer offers a dependent care flexible spending arrangement (FSA) in which she could contribute up to $5,000 on a pre-tax (before FICA and income tax) basis. If she does not participate in the FSA, Eileen can claim the dependent child care credit for these expenses. Eileen has no other income or deductions. Compute the tax savings of these two alternatives and make a recommendation to Eileen.If you want the formulas and any calculations, select the corresponding cell and press F2(Function Key on key board),It will show all calculations and formulas AutomaticallyQuestion:Eileen files…