Check my work Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule for married filing jointly). Required: 10 points a. If Jorge and Anita earn an additional $100,000 of taxable income, what is their marginal tax rate on this income? Skipped b. What is their marginal rate if, instead, they report an additional $100,000 in deductions? eBook (For all requirements, round your answers to 2 decimal places.) Hint Print Marginal tax rate % References a. b Marginal tax rate % LO 2019 Tax Rate Schedules Individuals Schedule X-Single The tax is: If taxable income is over: But not over: $ 9,700 10% of taxable income $ 10 $9.700 $ 9,700 $970 plus 12% of the excess over $ 39,475 $4,543 plus 22% of the $14,382.50 plus 24% of the excess over $84,200 $32,748.50 plus 32% of the excess over $160,725 $46,628.50 plus 35% of the excess over excess over $39.475 $ 84,200 $ 39,475 $ 84,200 $160,725 $204,100 $160,725 $204,100 $510,300 $204,100 $153,798.50 plus 37% of the excess over $510,300 $510,300 Schedule Y-1-Married Filing Jointly Qualifying Widow(er) or The tax is: If taxable income is over: But not over: $ 0 $ 19,400 10% of taxable income $19,400 $78,950 $1,940 plus 12% of the excess over $19,400 $ 78,950 $9,086 plus 22% of the excess over $78,950 $168,400 $28,765 plus 24% of the excess over $65,497 plus 32% of the excess over $321,450 $93,257 plus 35% of the excess over $168.400 $321,450 $168,400 $408,200 $321,450 $408,200 $612,350 $408.200 $164,709.50 plus 37% of the excess over $612,350 $612,350 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $ $13,850 10% of taxable income $ 52,850 $ 84,200 $13,850 $1,385 plus 12% of the excess over $13,850 $ 52,850 $6,065 plus 22% of the excess over $52,850 84,200 $160,700 $12,962 plus 24% cess orear $94.200 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $13,850 10% of taxable income $ $1,385 plus 12% of the excess over $13,850 $13,850 $52,850 $6,065 plus 22% of the excess over $52,850 52,850 $ 84,200 $ 84,200 $12,962 plus 24% of the excess over $84,200 $160,700 $31,322 plus 32% of the excess over $160,700 $160,700 $204,100 $45,210 plus 35% of the excess over $204,100 $204,100 $510,300 $152,380 plus 37% of the excess $510,000 over $510,300 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: $ 9,700 $ 10% of taxable income 0 $ 9,700 $970 plus 12% of the excess over $9,700 $ 39,475 $ 84,200 $4,543 plus 22% of the excess over $39,475 39,475 $14,382.50 plus 24% of the exces $160,725 84,200 over $84 200 $32,748.50 plus 32% of the excess over $160.725 $160,725 $204,100 $46,628.50 plus 35% of the excess over $204,100 $204,100 $306,175 $306,175 $82,354.75 plus 37% of the excess over $306,175