Jorge and Anita, married taxpayers, earn $158,800 in taxable income and $42,200 in interest from an investment in City of Heflin bonds. Using the U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate?

Use the Given Table of Tax Brackets and Rates

2023 Federal Income Tax Brackets and Rates for Single Filers, Married Couples Filing Jointly, and Heads of Households Source: Internal Revenue Service