Marc, a single taxpayer, earns $63,000 in taxable income and $5,300 in interest from an investment in city of Birmingham Bonds. Using the U.S. tax rate schedule for year 2020, what is his effective tax rate? (Round your final answer to two decimal places.)(Use Tax rate schedule.)

• 20.60 percent

• 14.13 percent

• 15.32 percent

• 10.77 percent

• None of the choices are correct