Question: Return to question 4. Problem 1-39 (LO 1-3) (Static) 10 points Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 in interest

Return to question 4. Problem 1-39 (LO 1-3) (Static) 10 points

Return to question 4. Problem 1-39 (LO 1-3) (Static) 10 points Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 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 earn an additional $100,000 of taxable income, what is their marginal tax rate on this income? b. What is their marginal rate if, instead, they report an additional $100,000 in deductions? (For all requirements, round your answers to 2 decimal places.) Answer is complete but not entirely correct. a. 23.00 % Marginal tax rate Marginal tax rate b. 19.00 X % M

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