A married (MFJ) taxpayer, earns $60,000 per year in taxable income and an additional $12,000 per year in city of Boston bonds. If the TP earns an additional $35,000 in taxable income in year 2019, what is his marginal tax rate (rounded) on this income?

A. 16.59%

B. 18.29%

C. 12.00%

D. 17.03%

E. 22.00%

Which of the following statements is false? (There could be more than one answer)

A. Municipal bond interest is subject to implicit tax. B. All of these statements are true. C. Municipal bond interest is subject to explicit federal tax. D. None of these statements is true. E. Municipal bonds typically pay a higher interest rate than corporate bonds with similar risk.