Leonardo, who is married but files separately, earns $190,000 of taxable income. He also has $16,250 in city of Tulsa bonds. His wife, Theresa, earns $70,000 of taxable income. If Leonardo and his wife file married filing jointly in 2018, what would be their effect tax rate (rounded)? (Use tax rate schedule)

rev: 02_04_2019_QC_CS-156778

Multiple Choice

• 16.33%

• 20.08%

• 25.37%

• 26.33%

• None of the choices are correct.%