Campbell, a single taxpayer, earns $393,000 in taxable incomeand $12,000 in interest from an...

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Accounting

Campbell, a single taxpayer, earns $393,000 in taxable incomeand $12,000 in interest from an investment in State of New Yorkbonds. (Use the U.S. tax rate schedule.) (Do not round intermediatecalculations. Round "Federal tax" to 2 decimal places.)
a. If Campbell earns an additional $27,500 of taxable income,what is her marginal tax rate on this income?

b. What is her marginal rate if instead she had $27,500 ofadditional deduction?

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Using 2018 tax Schedule Taxable Income old 39300000 4568950 plus 35 of the amount over 200000 Cambell will owe old Tax 4568950 35393000 200000 11323950 See Answer

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In: AccountingCampbell, a single taxpayer, earns $393,000 in taxable incomeand $12,000 in interest from an investment...Campbell, a single taxpayer, earns $393,000 in taxable incomeand $12,000 in interest from an investment in State of New Yorkbonds. (Use the U.S. tax rate schedule.) (Do not round intermediatecalculations. Round "Federal tax" to 2 decimal places.)a. If Campbell earns an additional $27,500 of taxable income,what is her marginal tax rate on this income? b. What is her marginal rate if instead she had $27,500 ofadditional deduction?