Scot and Vidia, married taxpayers, earn $240,000 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 $80,000 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 $80,000 in deductions? Note: For all requirements, round your answers to 2 decimal places. Answer is complete but not entirely correct. a Marginal tax rate b. Marginal tax rate 24.00% 23.72 % Retur 2022 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: $ 0 $ 10,275 $ 41,775 $ 89,075 $ 170,050 $ 215,950 $539,900 $ 10,275 $ 41,775 $ 89,075 $170,050 $ 215,950 $539,900 The tax is: 10% of taxable income $1,027.50 plus 12% of the excess over $10,275 $4,807.50 plus 22% of the excess over $41,775 $15,213.50 plus 24% of the excess over $89,075 $34,647.50 plus 32% of the excess over $170,050 $49,335.50 plus 35% of the excess over $215,950 $162,718 plus 37% of the excess over $539,900 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: S 0 $ 20,550 $ 83,550 $ 178,150 $ 340,100 $ 431,900 $ 647,850 $ 20,550 $ 83,550 $178,150 $340,100 $ 431,900 S 647,850 The tax is: 10% of taxable income $2,055 plus 12% of the excess over $20,550 $9315 plus 22% of the excess over $83,550 $30,427 plus 24% of the excess over $178,150 $69,295 plus 32% of the excess over $340,100 $98,671 plus 35% of the excess over $431,900 $174,253 50 plus 37% of the excess over $647,850