Jane and Gregory are married and file a joint return. They expect to have $ 380,000 of taxable income in the next year and are considering whether to purchase a personal residence that would provide additional tax deductions of $ 114,000 for mortgage interest and real estate taxes.

The marginal rate is ___% if the personal residence is not purchased and is ___ % if the personal residence is purchased

What is the tax savings if residence is aquired? (round to the nearest cent)

Tax without purchase of personal residence ____

Tax with purchase of personal residence _____

Tax savings ____