Leonardo, who is married but files separately, earns $90,000 of taxable income. He also has $8,750 in city of Tulsa bonds. His wife, Theresa, earns $37,500 of taxable income. If Leonardo instead had $27,500 of additional tax deductions for year 2018, his marginal tax rate on the deductions would be: (Use tax rate schedule)

Multiple Choice

• 12.55%

• 14.43%

• 22.55%

• 16.92%

• None of the choices are correct.