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Chuck, a single taxpayer,earns $86,000 in taxable income and $24750 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate

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Chuck, a single taxpayer,earns $86,000 in taxable income and $24750 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule) Required: a. If Chuck earns an additional $41,000 of taxable income, what is his marginal tax rate on this income? b. What is his marginal rate if, instead, he had $41,000 of additional deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) a. Marginal tax rate b Marginal tax rate 1%

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