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Chuck, a single taxpayer, earns $ 7 9 , 6 0 0 in taxable income and $ 1 5 , 6 0 0 in interest

Chuck, a single taxpayer, earns $79,600 in taxable income and $15,600 in interest from an investment in City of Heflin bonds. (Use the U.S.tax rate schedule.)Required:A. If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income?B. What is his marginal rate if, instead, he had $40,000 of additional deductions?Note: For all requirements, do not round intermediate calculations. Round percentage answers to 2 decimal places.

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