2021 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: $ 0 $ 9,950 $ 40,525 $ 86,375 $ 164,925 $209,425 $ 523,600 $ 9,950 $ 40,525 $ 86,375 $164,925 $ 209,425 $ 523,600 - The tax is: 10% of taxable income $995 plus 12% of the excess over $9,950 | $4,664 plus 22% of the excess over $40,525 $14,751 plus 24% of the excess over $86,375 $33,603 plus 32% of the excess over $164,925 $47,843 plus 35% of the excess over $209,425 $157,804.25 plus 37% of the excess over $523,600 Chuck, a single taxpayer, earns $75,100 in taxable income and $10,200 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) Required: a. If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? b. What is his marginal rate if, instead, he had $40,000 of additional deductions? (For all requirements, do not round intermediate calculations. Round percentage answers to 2 decimal places.) a. Marginal tax rate b. Marginal tax rate % %