Question: Solve for A and B Problem 1-37 (LO 1-3) (Algo) Campbell, a single taxpayer, earns $418,000 in taxable income and $2,360 in interest from an

Solve for A and B Problem 1-37 (LO 1-3) (Algo) Campbell, a Solve for A and B

Problem 1-37 (LO 1-3) (Algo) Campbell, a single taxpayer, earns $418,000 in taxable income and $2,360 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule). Required: a. If Campbell earns an additional $15,900 of taxable income, what is her marginal tax rate on this income? b. What is her marginal rate if, instead, she had $15,900 of additional deductions? (For all requirements, do not round intermediate calculations.) X Answer is complete but not entirely correct. a. 25 % Marginal tax rate Marginal tax rate b. 25 X %

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