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  3. 2. chuck, a single taxpayer, earns $79,000 in taxa

2. Chuck, a single taxpayer, earns $79,000 in taxable income and $10,000 in interest from...

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Accounting

2. Chuck, a single taxpayer, earns $79,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (Use the 2020 U.S. tax rate schedule.)

A. If Chuck earns an additional $40,480 of taxable income, what is his marginal tax rate on this income?

B. What is his marginal rate if, instead, he had $40,480 of additional deductions?

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