Scot and Vidia, married taxpayers, earn $272,000 in taxable income and $9,800 in interest from an...

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Scot and Vidia, married taxpayers, earn $272,000 in taxable income and $9,800 in interest from an investment in City of Tampa bonds. Using the U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate? Note: Do not round intermediate calculations. Round "Average tax rate" & "Effective tax rate" to 2 decimal places. Federal tax Average tax rate % Effective tax rate Marginal tax rate 24% The tax is: Schedule Y-1-Married Filing Jointly or Qualifying surviving spouse If taxable income is over: But not over: $ 0 $ 22,000 $ 22,000 $ 89,450 $ 89,450 $ 190,750 $364,200 $462,500 $ 693,750 $ 190,750 $364,200 $462,500 $ 693,750 10% of taxable income $2,200 plus 12% of the excess over $22,000 |$10,294 plus 22% of the excess over $89,450 $32,580 plus 24% of the excess over $190,750 $74,208 plus 32% of the excess over $364,200 $105,664 plus 35% of the excess over $462,500 $186,601.5 plus 37% of the excess over $693,750 Scot and Vidia, married taxpayers, earn $272,000 in taxable income and $9,800 in interest from an investment in City of Tampa bonds. Using the U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate? Note: Do not round intermediate calculations. Round "Average tax rate" & "Effective tax rate" to 2 decimal places. Federal tax Average tax rate % Effective tax rate Marginal tax rate 24% The tax is: Schedule Y-1-Married Filing Jointly or Qualifying surviving spouse If taxable income is over: But not over: $ 0 $ 22,000 $ 22,000 $ 89,450 $ 89,450 $ 190,750 $364,200 $462,500 $ 693,750 $ 190,750 $364,200 $462,500 $ 693,750 10% of taxable income $2,200 plus 12% of the excess over $22,000 |$10,294 plus 22% of the excess over $89,450 $32,580 plus 24% of the excess over $190,750 $74,208 plus 32% of the excess over $364,200 $105,664 plus 35% of the excess over $462,500 $186,601.5 plus 37% of the excess over $693,750