Question: Please answer both parts. Thank you so much. Problem 1-39 (LO 1-3) (Algo) Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $65,000

Please answer both parts. Thank you so much.

Problem 1-39 (LO 1-3) (Algo) Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $65,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule for married filing jointly). Required: a. If Jorge and Anita eam an additional $112,500 of taxable income, what is their marginal tax rate on this income? b. What is their marginal rate If, instead, they report an additional $112,500 in deductions? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.) a % Marginal tax rate Marginal tax rate b. %

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