Scot and vidia married taxpayers earn 84500 in taxable, Ask an Expert

Accounting

Scot and Vidia, married taxpayers, earn $84,500 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). (Do not round intermediate calculations. Round your answer to 2 decimal places.)

a. If Scot and Vidia earn an additional $22,000 of taxable income, what is their marginal tax rate on this income?

b. How would your answer differ if they, instead, had $22,000 of additional deductions?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92006252

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