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Jorge and Anita, married taxpayers, earn $ 1 5 2 , 5 0 0 in taxable income and $ 4 2 , 5 0 0

Jorge and Anita, married taxpayers, earn $152,500 in taxable income and $42,500 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule for married filing jointly).Required:If Jorge and Anita earn an additional $102,500 of taxable income, what is their marginal tax rate on this income?What is their marginal rate if, instead, they report an additional $102,500 in deductions?Note: For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.

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