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Problem 1-39 (LO 1-3) Jorge and Anita, married taxpayers, earn $142,000 in taxable income and $49,000 in interest from an investment in City of Heflin

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Problem 1-39 (LO 1-3) Jorge and Anita, married taxpayers, earn $142,000 in taxable income and $49,000 in interest from an investment in City of Heflin bonds. Use the U.S. tax rate schedule for married filing jointly). Required: a. If Jorge and Anita earn an additional $104,500 of taxable income, what is their marginal tax rate on this income? b. What is their marginal rate if, instead, they report an additional $104,500 in deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) a Marginal tax rate Marginal tax rate

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