Scot and Vidia, married taxpayers, earn $240,000 in taxable income and $5,000 in interest from an investment

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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 (see Example 1-3), 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?

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