Jorge and Anita, married taxpayers, earn $191,500 in taxable income and $80,000 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.)

2016 Federal Tax Rate Schedule Schedule X-Single Schedule Z-Head of Household If taxable If taxable income is But not income is But not The tax is The tax is: over: Over Over Over 0 9,275 10% of taxable income 0 13,250 10% of taxable income 9,275 37650 $92750 plus 15% of the excess 13,250 50,400 $1,325.00 plus 15% of the excess over $9,275 over $13,250 37650 91,150 $5,183.75 plus 25% of the excess 50,400 $130,150 $6.89750 plus 25% of the excess over $37650 over $50,400 $130,150 $210,800 $26,835.00 plus 28% of the excess 91,150 $190,150 $18,558.75 plus 28% of the excess over $130,150 over $91,150 $190,150 $413,350 $46,278.75 plus 33% of the excess $210,800 $413,350 $49,41700 plus 33% of the excess over $210,800 over $190,150 $413,350 $415,050 $119,934.75 plus 35% of the excess $413,350 $441,000 $116,258.50 plus 35% of the excess over $413,350 over $413,350 $415,050 $120,529.75 plus 39.6% of the excess $441,000 $125,936.00 plus 39.6% of the excess over $415,050 over $441,000 Schedule Y 1- Married Filing Jointly Schedule Y 2- Married Filing Separately of Qualifying Widow(er) If taxable income is But not If taxable income is But not The tax is: Over Over The tax is: Over Over 0 9,275 10% of taxable income 9,275 37650 $92750 plus 15% of the excess 0 18,550 10% of taxable income Over $9,275 18,550 75,300 $1,855.00 plus 15% of the excess 37650 75,950 $5,183.75 plus 25% of the excess over $18,550 75,300 $151,900 $10,36750 plus 25% of the excess over $37650 over $75,300 75,950 $115,725 $14,758.75 plus 28% of the excess $151,900 $231,450 $29,51750 plus 28% of the excess over $75,950 over $151,900 $115,725 $206,675 $25,895.75 plus 33% of the excess over $115,725 $231,450 $413,350 $51,791.50 plus 33% of the excess over $231,450 $206,675 $233,475 $55,909.25 plus 35% of the excess over $206,675 $413,350 $466,950 $111,818.50 plus 35% of the excess over $413,350 $233,475 $65,289.25 plus 39.6% of the excess over $233,475 $466,950 $130,578.50 plus 39.6% of the excess over $466,950