what is their marginal tax rate on this income?

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter12: Tax Administration And Tax Planning
Section: Chapter Questions
Problem 22MCQ: Melodie's taxable income is $39,000 and she pays income tax of $4,489. If Melodie's taxable income...
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Scott and Bonnue, married taxpayers, earn $258,000 in taxable income and $7,700 in interest from an investment in City of Tampa
bonds. If instead Scott and Bonnie earn an additional $150,000 of taxable income, what is their marginal tax rate on this income?
Use the 2023 tax rate
Blank 1 Use the 2023 tax rate
Transcribed Image Text:Scott and Bonnue, married taxpayers, earn $258,000 in taxable income and $7,700 in interest from an investment in City of Tampa bonds. If instead Scott and Bonnie earn an additional $150,000 of taxable income, what is their marginal tax rate on this income? Use the 2023 tax rate Blank 1 Use the 2023 tax rate
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