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Chuck, a single taxpayer, earns $132,750 in taxable income and $21,250 in interest from an investment in City of Heflin bonds. (Use the U.S.tax rate

Chuck, a single taxpayer, earns $132,750 in taxable income and $21,250 in interest from an investment in City of Heflin bonds. (Use the U.S.tax rate schedule.)(Do not round intermediate calculations. Round your answers to 2 decimal places.)

a.

If Chuck earns an additional $57,000 of taxable income,what is his marginal tax rate on this income?

b.

What is his marginal rate if, instead, he had $57,000 of additional deductions?

Campbell, a single taxpayer, earns $189,000 in taxable income and $3,500 in interest from an investment in State of New York bonds. (Use the U.S.tax rate schedule.)(Do not round intermediate calculations. Round "Federal tax" to 2 decimal places.)

a. How much federal tax will she owe?

b. What is her average tax rate?

c. What is her effective tax rate?

d. What is her current marginal tax rate?

Jorge and Anita, married taxpayers, earn $190,500 in taxable income and $30,000 in interest from an investment in City of Heflin bonds.Using the U.S.tax rate schedulefor married filing jointly, how much federal tax will they owe? What is their average tax rate?What is their effective tax rate?What is their current marginal tax rate?(Do not round intermediate calculations. Round your answers to 2 decimal places.)

Federal tax
Average tax rate %
Effective tax rate %
Marginal tax rate

%

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