Scot and Vidia, married taxpayers, earn $254,200 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 $85,100 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 $85100 in deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) 0. b. Marginal tax rate Marginal tax rato 2020 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: S 0 $ 9,875 $ 9,875 $ 40,125 $ 40,125 $ 85,525 $ 85,525 S163,300 $163,300 $207,350 $207,350 $518,400 $518.400 The tax is: 10% of taxable income $987.50 plus 12% of the excess over $9,875 $4,617.50 plus 22% of the excess over $40.125 $14,605.50 plus 24% of the excess over $85,525 $33,271.50 plus 32% of the excess over $163,300 $47,367.50 plus 35% of the excess over $207.350 $156,235 plus 37% of the excess over $518,400 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: $ 0 $ 19,750 10% of taxable income $ 19,750 $ 80.250 $1,975 plus 12% of the excess over $19,750 S 80,250 $171,050 $9,235 plus 22% of the excess over $80,250 $171,050 $326,600 $29,211 plus 24% of the excess over $171,050 $326,600 $414,700 $66,543 plus 32% of the excess over $326,600 $414,700 $622,050 $94.735 plus 35% of the excess over $414,700 $622,050 $167.307.50 plus 37% of the excess over $622,050 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $ 0 $ 14,100 10% of taxable income $ 14,100 $ 53,700 $1,410 plus 12% of the excess over $14,100 $ 53,700 $ 85,500 $6.162 plus 22% of the excess over $53,700 $ 85,500 $163,300 $13,158 plus 24% of the excess over $85.500 $163,300 $207,350 $31,830 plus 32% of the excess over $163.300 $207,350 $518,400 $45,926 plus 35% of the excess over $207,350 $518,400 $154.793.50 plus 37% of the excess over $518,400 !!! Apps Mail-lashantedrak u Administrative wys! S163,300 $207.350 ||$33,271.50 plus 32% of the excess over $163,300 $207,350 $518,400 S47.367.50 plus 35% of the excess over $207.350 $518,400 SI56,235 plus 37% of the excess over $518,400 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: S 0 $ 19,750 10% of taxable income $ 19,750 S 80,250 $1.975 plus 12% of the excess over $19.750 S 80.250 SI71.050 59,235 plus 22% of the excess over $80,250 $171.050 S326,600 529.211 plus 24% of the excess over $171.050 S326,600 $414,700 S66,543 plus 32% of the excess over $326,600 $414,700 $622,050 $94.735 plus 35% of the excess over $414,700 S622.050 $167.307.50 plus 37% of the excess over $622,050 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: S 0 S 14,100 10% of taxable income S 14.100 S 53,700 $1.410 plus 12% of the excess over $14.100 S 53.700 S 85.500 S6.162 plus 22% of the excess over $53.700 $ 85,500 $163,300 $13,158 plus 24% of the excess over $85,500 $163,300 $207,350 $31.830 plus 32% of the excess over $163,300 $207,350 S518.400 $45.926 plus 35% of the excess over $207,350 S518.400 SI54.793.50 plus 37% of the excess over $518.400 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: S 0 S 9.875 10% of taxable income S 9.875 $ 40,125 S987.50 plus 12% of the excess over $9,875 $ 40,125 S 85,525 $4,617.50 plus 22% of the excess over $40,125 S 85,525 S163,300 $14,605,50 plus 24% of the excess over $85,525 S163,300 $207,350 $33.271.50 plus 32% of the excess over $163.300) $207,350 $311.025 S47.367.50 plus 35% of the excess over $207.350 $311.025 $83,653.75 plus 37% of the excess over $311.025