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could you please explain how you get the answer. thank you Bonnie gave her husband, Richard, $50,000 to invest. Richard purchased a 6% corporate bond
could you please explain how you get the answer.
Bonnie gave her husband, Richard, $50,000 to invest. Richard purchased a 6% corporate bond and earned interest income of $3,000 in the first year. Bonnie's marginal tax rate is 43% and Richard's marginal tax rate is 29%. What statement is true? a) The investment income will be taxed at a rate of 29%. b) The investment income is taxable to Richard. c) If Bonnie cannot pay the resulting tax liability, Richard will have to pay the tax at his rate of 29% thank you
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