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Chuck, a single taxpayer, earns $ 7 9 , 0 0 0 in taxable income and $ 1 2 , 1 0 0 in interest

Chuck, a single taxpayer, earns $

79, 000

in taxable income and $

12, 100

in interest from an investment in City of Heflin bonds.

(

Use the U

.

S tax rate schedule.

)

Required:

How much federal tax will he owe?

What is his average tax rate?

What is his effective tax rate?

What is his current marginal tax rate?

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