Jorge and Anita, married taxpayers, earn $$155,000$ in taxable income and $$45,000$ in interest from an investment in City of Heflin bonds. $($Use the U$.$S$.$ tax rate schedule for married filing jointly$).$

Required:

a$.$ If Jorge and Anita earn an additional $$105,000$ of taxable income, what is their marginal tax rate on this income?

b$.$ What is their marginal rate if$,$ instead, they report an additional $$105,000$ in deductions?

$\_$

Jorge and Anita, married taxpayers, earn $$155,000$ in taxable income and

$$45,000$ in interest from an investment in City of Heflin bonds. $($Use the U$.$S$.$ tax

rate schedule for married filing jointly$).$

Required:

a$.$ If Jorge and Anita earn an additional $$105,000$ of taxable income, what is

their marginal tax rate on this income?

b$.$ What is their marginal rate if$,$ instead, they report an additional $$105,000$ in

deductions?

$($For all requirements, do not round intermediate calculations. Round your

answers to $2$ decimal places.$)2021$ Tax Rate Schedules

Individuals

Schedule X$-$Single

Schedule Y$-1-$Married Filing Jointly or Qualifying Widow$($er$)$

Schedule Z$-$Head of Household

Schedule Y$-2-$Married Filing Separately