Judy and George are married and file a joint return. They expect to have $180,000 of taxable income in the next year and are considering whether to purchase a personal residence that would provide additional tax deductions of $54,000 for mortgage interest and real estate taxes. (Click the icon to view the 2019 tax rate schedule for the Married filing jointly filing status.) Read the requirements. i Reference Requirement a. What is their marginal tax rate for purposes of making this decision? (Enter amoy Married, Filing Joint and Surviving Spouse If taxable income is: The tax is: What is the marginal tax rate if the personal residence is not purchased? What is the marginal tax rate if the personal residence is purchased? Not over $19,400 10% of taxable income. Requirement b. What is the tax savings if the residence is acquired? (Do not round intermediary Over $19,400 but not over $78,950 Tax without purchase of personal residence Tax with purchase of personal residence Tax savings Over $78,950 but not over $168,400 Over $168,400 but not over $321,450 Over $321,450 but not over $408,200 Over $408,200 but not over $612,350 $1,940.00 + 12% of the excess over $19,400. . $9,086.00 + 22% of the excess over $78,950. . $28,765.00 + 24% of the excess over $168,400. $65,497.00 + 32% of the excess over $321,450. $93,257.00 + 35% of the excess over $408,200. $164,709.50 + 37% of the excess over $612,350. Over $612,350 Print Done Enter any number in the edit fields and then continue to the next