work mode This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to c Scot and Vidia, married taxpayers, earn $240,000 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. Using the U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate? Note: Round "Average tax rate" & "Effective tax rate" to 2 decimal places. Federal tax Average tax rate Answer is not complete. % Effective tax rate 18.63% Marginal tax rate 24% 2022 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: S 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: $ 0 $ 20,550 $ 83,550 $178,150 $340,100 $ 431,900 $ 647,850 $ 20,550 $ 83,550 $178,150 $ 340,100 $ 431,900 $ 647,850 The tax is: 10% of taxable income $2,055 plus 12% of the excess over $20,550 $9,615 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