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Chuck, a single taxpayer, earns $77,200 in taxable income and $12,400 in interest from an investment in City of Heflin bonds. (Use the U.S. tax

Chuck, a single taxpayer, earns $77,200 in taxable income and $12,400 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.)

Required:

  1. If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income? image text in transcribedNote: For all requirements, do not round intermediate calculations. Round percentage answers to 2 decimal places.
2022 Tax Rate Schedules Individuals Scherdule X-Single

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