Leonardo, who is married but files separately, earns $40,000 of taxable income. He also has $5,000 in city of Tulsa bonds. His wife, Theresa, earns $30,000 of taxable income. If Leonardo instead had $10,000 of additional tax deductions for 2019, his marginal tax rate on the deductions would be: (Use tax rate schedule) Multiple Choice 2.53 percent 4.41 percent Oo oo 12.53 percent 2.53 percent 4.41 percent 12.53 percent 14.53 percent None of the choices are correct 2019 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $ 9,700 10% of taxable income $ 9,700 $ 39,475 $970 plus 12% of the excess over $9,700 $ 39,475 $ 84,200 $4,543 plus 22% of the excess over $39,475 $ 84,200 $160,725 $14,382.50 plus 24% of the excess over $84,200 $160,725 $204,100 $32,748.50 plus 32% of the excess over $160,725 $204,100 $510,300 $46,628.50 plus 35% of the excess over $204,100 $510,300 $153,798.50 plus 37% of the excess over $510,300 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: $ 0 $ 19,400 10% of taxable income $ 19,400 $ 78,950 $1,940 plus 12% of the excess over $19,400 $ 78,950 $168,400 $9,086 plus 22% of the excess over $78,950 $168,400 $321,450 $28,765 plus 24% of the excess over $168,400 $321,450 $408,200 $65,497 plus 32% of the excess over $321,450 $408,200 $612,350 $93,257 plus 35% of the excess over $408,200 $612,350 - $164,709.50 plus 37% of the excess over $612,350 Schedule Z-Head of Household Post not ever. If taxable income is over: But not over: The tax is: $1,940 plus 12% of the excess over $19.400 $9,086 plus 22% of the excess over $78,950 $28,765 plus 24% of the excess over $168.400 $65,497 plus 32% of the excess over $321.450 $93.257 plus 35% of the excess over $408,200 $164,709.50 plus 37% of the excess over $612,350 $ 19,400 $ 78,950 $ 78,950 $168.400 $168.400 $321,450 $321.450 $408,200 $408.2001 $612,350 $612,350 - Schedule Z-Head of Household If taxable income is over: But not over: $ 0 $ 13,850 $ 13,850 $ 52,850 $ 52,850 $ 84,200 $ 84,200 $160,700 $160,700 $204,100 $204,100 $510,300 $510,300 - The tax is: 10% of taxable income $1,385 plus 12% of the excess over $13,850 $6,065 plus 22% of the excess over $52,850 $12.962 plus 24% of the excess over $84,200 $31,322 plus 32% of the excess over $160,700 $45,210 plus 35% of the excess over $204,100 $152,380 plus 37% of the excess over $510,300 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: $ 0 $ 9,700 $ 9,700 $ 39,475 $ 39,475 $ 84,200 $ 84,200 S160,725 $160,725 $204,100 $204,100 $306,175 $306,175 The tax is: 10% of taxable income $970 plus 12% of the excess over $9,700 $4,543 plus 22% of the excess over $39,475 $14,382.50 plus 24% of the excess over $84.200 $32,748,50 plus 32% of the excess over $160,725 $46,628,50 plus 35% of the excess over $204,100 $82,354.75 plus 37% of the excess over $306,175