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Alika [10]
3 years ago
14

Scot and Vidia, married taxpayers, earn $92,000 in taxable income and $5,000 in interest from an investment in City of Tampa bon

ds. (Use the U.S. tax rate schedule for married filing jointly). (Do not round intermediate calculations. Round your answer to 2 decimal places.) a. If Scot and Vidia earn an additional $60,500 of taxable income, what is their marginal tax rate on this income?
Business
1 answer:
jok3333 [9.3K]3 years ago
3 0

Answer:

a. Total Income=$152,500

Marginal Tax rate = 17.3%

Explanation:

Total Income=Taxable Income+Additional Income = $92,000+$60,500=$152,500

Marginal Tax rate = 17.3%

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