Question
Campbell, a single taxpayer, earns $401,000 in taxable income and $2.080 in interest from an investment in State of New York bonds. (Use the
Campbell, a single taxpayer, earns $401,000 in taxable income and $2.080 in interest from an investment in State of New York bonds. (Use the US. tax rate schedule) Required: a. If Campbell earns an additional $15,200 of taxable income, what is her marginal tax rate on this income? b. What is her marginal rate if, instead, she had $15,200 of additional deductions? Note: For all requirements, do not round intermediate calculations. Round percentage answers to whole percent. a. Marginal tax rate: b. Marginal tax rate 35% %
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