Gustavo and Gaby, a married couple, come to you to prepare their federal joint individual income tax return. They have the following items of income:Interest Income from a Savings Account at the CUNY Savings Bank: $5,000Interest Income from the City of New York municipal bonds: $1,000Dividends Income from the Intel Corporation: $12,000 (which is qualified).Received from the BMCC Mutual Fund: $4,000 in qualified dividends. $2,000 for capital gain income and $200 for a return of capital.Dividends received from Sony, Inc. a foreign, non-US corporation: $3,000Gaby earned a salary of $70,000 Gustavo has pension income of $8000 of which $4000 is taxable income.You calculate that Gustavo and Gaby have $32,600 in itemized deductions.The couple do not have any children. Gustavo and Gaby now ask you whether it would be better for them to Itemize or to take the Standard Deduction on their federal income tax return. What do you tell them and why?