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Chuck, a single taxpayer, earns $75,200 in taxable income and $10,200 in interest from an investment in City of Heflin bonds. (Use the U.S. tax

image text in transcribedimage text in transcribedimage text in transcribed Chuck, a single taxpayer, earns $75,200 in taxable income and $10,200 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. Jorge and Anita, married taxpayers, earn $159,500 in taxable income and $49,500 in interest from an investment in City of Heflin bonds. (Use the U.S. for married filing jointly.) Required: a. If Jorge and Anita earn an additional $109,500 of taxable income, what is their marginal tax rate on this income? b. What is their marginal rate if, instead, they report an additional $109,500 in deductions? Note: For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. Scot and Vidia, married taxpayers, earn $240,700 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. (Use the U.S. for married filing jointly.) Required: a. If Scot and Vidia earn an additional $80,700 of taxable income, what is their marginal tax rate on this income? b. What is their marginal tax rate if, instead, they report an additional $80,700 in deductions? Note: For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places

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