Chuck, a single taxpayer, earns $87,000 in taxable income and $31,000 in interest from an investment in City of Heflin bonds. (Use the U.S.tax rate schedule.)

Required:

1. If Chuck earns an additional $60,250 of taxable income,what is his marginal tax rate on this income?
2. What is his marginal rate if, instead, he had $60,250 of additional deductions?