John's annual gross income is $120,000 but he has an exemption of $7,200, and totaldeductions of $10,800. Using the following Tax Table, Calculate:

Income Tax rate

0 - 9,275 10%

9,275 - 37,650 15%

37,650 - 91,150 25%

91,150 - 190,150 28%

1) John's taxable income.

2) John's marginal tax rate