** 20.78%

Leonardo earns $100,000 of taxable income. He also has $11,750 in city of Tulsa bonds. His wife, Theresa, earns $66,000 of taxable income. If Leonardo and his wife file married filing jointly in 2015, what would be their average tax rate? (Tax rate schedules) None of these 18.59% 27.32% 20.2% 28.59% What is Leonardo and Theresa's effective tax rate for year 2015? (Tax rate schedules) 30.25% 18.86% 17.25% 23.4%