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Jorge and Anita, married taxpayers, earn $45,000 in taxable income and $37,500 in interest from an investment in City of Heflin bonds. Using the U.S.

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Jorge and Anita, married taxpayers, earn $45,000 in taxable income and $37,500 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.) Federal tax Average tax rate Effective tax rate Marginal tax rate % % % If taxable income is over: But not over: $ 0 $ 19,400 $ 19,400 $ 78,950 $ 78,950 $168,400 $168,400 $321.450 $321.450 $408.200 $408.200 $612,350 $612,350 The tax is: 10% of taxable income $1,940 plus 12% of the excess over $19,400 $9,086 plus 22% of the excess over $78,950 S28.765 plus 24% of the excess over $168.400 565,497 plus 32% of the excess over $321,450 $93,257 plus 35% of the excess over $408.200 $164.709.50 plus 37% of the excess over $612.350

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