Question
Chuck, a single taxpayer, earns $84,500 in taxable income and $23,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax
Chuck, a single taxpayer, earns $84,500 in taxable income and $23,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) (Do not round intermediate calculations. Round your answers to 2 decimal places.)
If Chuck earns an additional $56,000 of taxable income, what is his marginal tax rate on this income?
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ederal taxAverage tax rate%Effective tax rate%Marginal tax rate% |
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