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Problem 1-41 (LO 1-3) (Algo) Scot and Vidia, married taxpayers, earn $257,400 in taxable income and $5,000 in interest from an investment in City of

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Problem 1-41 (LO 1-3) (Algo) Scot and Vidia, married taxpayers, earn $257,400 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. (Use the U.S. tax rate schedule for married filing jointly). Required: a. If Scot and Vidia earn an additional $99,500 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 $99,500 in deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) . Marginal tax rate Marginal tax rate % :% b

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