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J.P. Moneybags is a wealthy, married investor with annual taxable income of $125,000. (This is his income after all deductions and exemptions have been subtracted.)
J.P. Moneybags is a wealthy, married investor with annual taxable income of $125,000. (This is his income after all deductions and exemptions have been subtracted.) If J.P. has an extra $1,000 of income, how much of this will go toward federal income taxes? What would be J.P's marginal tax rate? (Round your answers to the nearest whole number.) will go toward federal income taxes, and the extra $1,000 will be taxed at %
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