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Chuck, a single taxpayer, earns $87,250 in taxable income and $32,500 in interest from an investment in City of Heflin bonds. Using the U.S. tax

Chuck, a single taxpayer, earns $87,250 in taxable income and $32,500 in interest from an investment in City of Heflin bonds. Using the U.S. tax rate schedule, if Chuck earns an additional $63,750 of taxable income, what is his marginal tax rate on this income? What is his marginal rate if, instead, he had $63,750 of additional deductions?

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