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What is the marginal tax rate on the income

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Reference no: EM132481372

Scot and Vidia, married taxpayers, earn $191,500 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:

Question 1: If Scot and Vidia earn an additional $101,250 of taxable income, what is their marginal tax rate on this income?

Question 2: What is their marginal rate if, instead, they report an additional $101,250 in deductions

Reference no: EM132481372

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