Final answer:
To calculate the adjusted gross income without proper context is not possible, but the process involves subtracting allowable deductions from the gross income. For the distribution of income among quintiles and tax deductions, specific methodologies are applied using the provided percentages and the incomes of the individuals.
Step-by-step explanation:
The adjusted gross income (AGI) is not directly calculable with the given information as no description of the financial scenario is provided. Normally, the AGI is calculated by taking the gross income and subtracting allowable deductions such as retirement contributions, student loan interest, or alimony payments.
In the scenario with the group of 10 people and their incomes, to calculate the income share of each quintile, we must first sort the incomes and then divide them into quintiles (groups of 20%). Comparing shares to the top and bottom quintiles of the U.S. income distribution requires additional data from 2005 for an accurate comparison.
For calculating deductions and taxes, we use the given percentages of the gross annual income to determine the Social Security, Medicare, and federal and state taxes deductions. These deductions are subtracted from the gross income to find the net income.