Scot and Vidia, married taxpayers, earn $256,000 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 S93,200 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 $93,200 in deductions? (For all requirements, do not round Intermediate calculations. Round your answers to 2 decimal places.) a Marginal tax rate Marginal tax rate b. 2020 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $ 9.875 10% of taxable income $ 9,875 $ 40,125 $987.50 plus 12% of the excess over $9.875 $ 40,125 $ 85,525 $4.61750 plus 22% of the excess over $40,125 $ 85.525 $163,300 $14.605.50 plus 24% of the excess over $85,525 $163,300 $207 350 $33.271.50 plus 32% of the excess over $163,300 $207,350 $518.400 S47367.50 plus 35% of the excess over $207,350 $518,400 ||$156,235 plus 37% of the excess over $518.400 Schedule Y-1-Married Filing Jointly or Qualifying Widower) If taxable income is over: But not over: The tax is: $ 0 $ 19.750 10% of taxable income $ 19.750 S 80,250 $1.975 plus 12% of the excess over $19.750 $ 80,250 $171.050 $9,225 plus 22% of the excess over $80.250 $171.050 $326.600 $29.211 plus 249 of the excess over $171,050 $326,600 $414.700 $66,543 plus 32 of the excess over $326.600 $414,700 $622,050 $94.1735 plus 389 of the excess over $414,700 $622,050 $167.307.50 plus 3798 on the excess over $622.050 Schedule Z-Head of Household if taxable income is over: But not over: The tax is: S 0 $ 14,100 10% of taxable income $ 14,100 $ 53,700 SI 410 plus 12% of the excess over $14.100 $ 53,700 $ 85,500 $6,162 plus 229 of the excess over $53.700 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 $94735 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 Tf 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 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: $ 0 $ 9.875 109 of taxable income $ 9,875 $ 40,125 $987.50 plus 12% of the excess over $9.875 $ 40,125 $ 85,525 $4,617 50 plus 22% of the excess over $40,125 $ 85,525 $163,300 $14,605.50 plus 24% of the excess over $85,525 $163,300 $207,350 $33,271.50 plus 32% of the excess over $163,300 $207,350 $311,025 $47.367.50 plus 35% of the excess over $207,350 $311,025 $83.653.75 plus 37% of the excess over $311,025