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Campbell, a single taxpayer, earns $408,000 in taxable income and $2,160 in interest from an investment in State of New York bonds. (Use the U.S.
Campbell, a single taxpayer, earns $408,000 in taxable income and $2,160 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule). Required: If Campbell earns an additional $15,400 of taxable income, what is her marginal tax rate on this income? What is her marginal rate if, instead, she had $15,400 of additional deductions?
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