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Tax accounting question Scot and Vidia, married taxpayers, earn $242,400 in taxable income and $5,000 in interest from an investment in Cit Tampa bonds. (Use

Tax accounting question

image text in transcribed Scot and Vidia, married taxpayers, earn $242,400 in taxable income and $5,000 in interest from an investment in Cit Tampa bonds. (Use the U.S. for married filing jointly.) Required: a. If Scot and Vidia earn an additional $82,400 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 $82,400 in deductions? Note: For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places

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