Mitch, a single taxpayer, earns $100,000 in taxable income and $10,000 in Interest from an Investment in city of Birmingham Bonds. Using the U.S. tax rate schedule for year 2020, how much federal tax will he owe? (Tax rate schedule) Multiple Choice $22.000 $18,080 O $13,580 O $24,000 None of the choices are correct. 2020 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over:But not over: The tax is: $ 0 $ 9,875 10% of taxable income $ 9,875 $ 40,125 5987.50 plus 12% of the excess over $9.875 $ 40.125 $ 85,525 54.617.50 plus 22% of the excess over $40.125 $ 85,525 $163,300 $14.605.50 plus 24% of the excess over $85,525 $163,300 $207,350 $33.271.50 plus 32% of the excess over $163,300 $207,350 $518,400 S47,367.50 plus 35% of the excess over $207,350 $518,400 $156,235 plus 37% of the excess over $518.400