Question
Chuck, a single taxpayer, earns $177,500 in taxable income and $32,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax
Chuck, a single taxpayer, earns $177,500 in taxable income and $32,000 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.)
"MUST USE 2015 TAX RATE SCHEDULE"
1) If Chuck earns an additional $100,250 of taxable income, what is his marginal tax rate on this income? __________% 2 DECIMAL PLACES
2) What is his marginal rate if, instead, he had $100,250 of additional deductions?______% 2 DECIMAL PLACES THIS IS THE THIRD TIME I AM POSTING THIS AND EVERYTIME ITS BEEN WRONG. PLEASE HELP AND MAKE SURE TO USE 2015 TAX RATE. THANK YOU SO MUCH |
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