Leonardo, who is married but files separately, earns $100,000 of taxable income. He also has $9,500 in city of Tulsa bonds. His wife, Theresa, earns $39,000 of taxable income.

If Leonardo earned an additional $31,000 of taxable income this year, what would be the marginal tax rate on the extra income for year 2018? (Use tax rate schedules)

Multiple Choice

22.17%

18.98%

24.17%

24.00%

None of the choices are correct.