Jillian and Gary are married and file a joint return. They expect to have $250,000 of taxable income in the next year and are considering whether to purchase a personal residence that would provide additional tax deductions of $75,000 for mortgage interest and real estate taxes. View the 2022 tax rate schedule for the Married Filing Joint filing status. Read the requirements. ... Requirement a. What is their marginal tax rate for purposes of making this decision? (Enter amounts as percentages to one decimal place.) What is the marginal tax rate if the personal residence is not purchased? 24 % 22 % What is the marginal tax rate if the personal residence is purchased? Requirement b. What is the tax savings if the residence is acquired? (Do not round intermediary calculations. Only round the amounts you input in the cells to the nearest cent.) Tax without purchase of personal residence Tax with purchase of personal residence Tax savings Tax Rate Schedule If taxable income is: Not over $20,550 Married, Filing Joint and Surviving Spouse Over $20,550 but not over $83,550 Over $83,550 but not over $178,150 Over $178,150 but not over $340,100 Over $340,100 but not over $431,900 Over $431,900 but not over $647,850 Over $647,850 The tax is: 10% of taxable income. . . $2,055.00 + 12% of the excess over $20,550. . $9,615.00 + 22% of the excess over $83,550. $30,427.00 + 24% of the excess over $178,150. $69,295.00 + 32% of the excess over $340,100. $98,671.00 + 35% of the excess over $431,900. $174,253.50 + 37% of the excess over $647,850.