Chuck, a single taxpayer, earns $43,500 in taxable income and $12,250 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) Required: a. If Chuck earns an additional $24,500 of taxable income, what is his marginal tax rate on this income? b. What is his marginal rate it instead, he had $24.500 of additional deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) Marginal tax rate Marginal tax rate 2019 IMUU DO Individuals Schedule X-Single The tax is: If taxable income is over: But not over: $ 0 $ 9,700 10% of taxable income $ 9,700 $ 39,475 S970 plus 12% of the excess over $9,700 $ 39,475 $ 84,200 $4,543 plus 22% of the excess over $39,475 $ 84,200 $160,725 $14,382.50 plus 24% of the excess over $84,200 $160,725 $204,100 $32,748.50 plus 32% of the excess over $160,725 $204,100 $510,300 $46,628.50 plus 35% of the excess over $204.100 $510,300 - $153,798.50 plus 37% of the excess over $510,300 Schedule Y-1. Married Filing Jointly or Qualifying Widow(er) 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 $168,400 $9,086 plus 22% of the excess over $78,950 $168,400 $321,450 $321,450 $408,200 $612,350 $408,200 $612,350 $28,765 plus 24% of the excess over $168.400 $65,497 plus 32% of the excess over $321,450 $93,257 plus 35% of the excess over $408,200 $164,709.50 plus 37% of the excess over $612,350 Schedule Z-Head of Household If taxable income is over: But not over: $ 0 $ 13,850 $ 13,850 $ 52,850 $ 52,850 $ 84,200 $ 84,200 The tax is: 10% of taxable income $1,385 plus 12% of the excess over $13,850 56,065 plus 22% of the an O $160 700