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Jorge and Anita, married taxpayers, earn $153,500 in taxable income and $43,500 in interest from an investment in City of Hellin bonds (Use the US
Jorge and Anita, married taxpayers, earn $153,500 in taxable income and $43,500 in interest from an investment in City of Hellin bonds (Use the US tax rate schedule for married filing Jointly) Required: a. If Jorge and Anita earn an additional S103,500 of taxable income, what is their marginal tax rate on this income b. What is their marginal rate it instead, they report an additional $103,500 in deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) a Marginal tax rate b. Marginal tax rate % %
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