Question
Jorge and Anita, married taxpayers, earn $187,500 in taxable income and $27,500 in interest from an investment in City of Heflin bonds. Using the U.S.
Jorge and Anita, married taxpayers, earn $187,500 in taxable income and $27,500 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? (Do not round intermediate calculations. Round your answers to 2 decimal places.)
"USE THE 2015 TAX SCHEDULE
A) Federal Tax_______
B) Average Tax Rate ________%
C) Effective Tax Rate_________%
D) Marginal Tax Rate_______%
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