Taxation from USA

4. Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. Using the U.S. tax rate schedule (see ( Appendix C), how much federal tax will he owe? What is his average tax rate? What is his effective tax rate? What is his current marginal tax rate? 2022 Tax Rate Schedules PageC-2 Tax Rates for Net Capital Gains and Qualified Dividends for this purpose). \begin{tabular}{l|c|c} \multicolumn{1}{c|}{ Basic Standard Deduction Amounts" } & 2022 Amount \\ \hline \multicolumn{1}{|c}{ Filing Status } & 2021 Amount & $25,900 \\ \hline Married Filing Jointly & $25,100 & $25,900 \\ \hline Qualifying Widow or Widower & $25,100 & $12,950 \\ \hline Married Filing Separately & $12,550 & $19,400 \\ \hline Head of Household & $18,800 & $12,950 \\ \hline Single & $12,550 & \\ \hline "For individuals claimed as a dependent on another return, the 2022 standard deduction is the greater of (1) $1,150 or (2) $400 plus earned income not to exceed the standard deduction amount of those \end{tabular} who are not dependents \begin{tabular}{|l|c|c|} \hline \multicolumn{3}{|c|}{ Amount of Each Additional Standard Deduction for Taxpayers Who Are Age 65 or Blind } \\ \hline Married taxpayers & 2021 Amount & 2022 Amount \\ \hline Single taxpayer or head of household & $1,350 & $1,400 \\ \hline \end{tabular} Exemption Amount