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Campbell, a single taxpayer, earns $409,500 in taxable income and $2,760 in interest from an investment in State of New York bonds. (Use the U.S.
Campbell, a single taxpayer, earns $409,500 in taxable income and $2,760 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule).
Required:
- If Campbell earns an additional $16,900 of taxable income, what is her marginal tax rate on this income?
- What is her marginal rate if, instead, she had $16,900 of additional deductions?
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