question archive Scot and Vidia, married taxpayers, earn $90,000 in taxable income and $5,000 in interest from an investment in City of Tampa bonds
Scot and Vidia, married taxpayers, earn $90,000 in taxable income and $5,000 in interest from an investment in City of Tampa bonds
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Scot and Vidia, married taxpayers, earn $90,000 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). (Do not round intermediate calculations. Round your answer to 2 decimal places.)
a. If Scot and Vidia earn an additional $78,750 of taxable income, what is their marginal tax rate on this income?
b. How would your answer differ if they, instead, had $78,750 of additional deductions?
