Question: Problem 1 - 3 5 ( LO 1 - 3 ) ( Algo ) Chuck, a single taxpayer, earns $ 7 6 , 4 0

Problem 1-35(LO 1-3)(Algo)
Chuck, a single taxpayer, earns $76,400 in taxable income and $11,500 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.)
Required:
a. If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income?
b. What is his marginal rate if, instead, he had $40,000 of additional deductions? Note: For all requirements, do not round intermediate calculations. Round percentage answers to 2 decimal places.
Please apecifically help me understand how to calculate part a. Thanks!
Problem 1-35(LO 1-3)(Algo) Chuck, a single taxpayer, earns $76,400 in taxable

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