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Please explain your answers. Chuck, a single taxpayer, earns $82,000 in taxable income and $17,750 in interest from an investment in City of Heflin bonds.

Please explain your answers. Chuck, a single taxpayer, earns $82,000 in taxable income and $17,750 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) (Do not round intermediate calculations. Round your answers to 2 decimal places.)

a.

If Chuck earns an additional $48,250 of taxable income,what is his marginal tax rate on this income?

b.

What is his marginal rate if, instead, he had $48,250 of additional deductions?

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