Problem $1-41($LO $1-3)($Algo$)$

Scot and Vidia, married taxpayers, earn $$242,200$ in taxable income and $$5,000$ in interest from an investment in City of Tampa

bonds. $($Use the $2023$ U$.$S$.$ tax rate schedule for married filing jointly.$)$

Required:

a$.$ If Scot and Vidia earn an additional $$82,200$ of taxable income, what is their marginal tax rate on this income?

b$.$ What is their marginal tax rate if$,$ instead, they report an additional $$82,200$ in deductions?

Note: For all requirements, do not round intermediate calculations. Round your answers to $2$ decimal places.

Schedule Y$-1-$Married Filing Jointly or Qualifying surviving spouse