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 average tax rate? (Use tax rate schedule)

Multiple Choice

15.86%

25.86%

19.61%

17.98%

None of the choices are correct.

2018 Tax Rate Schedules Individuals Schedule X-Single Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) Schedule Z-Head of Household Schedule Y-2-Married Filing Separately