Chuck, a single taxpayer, earns $75,250 in taxable income and $26,250 in interest from an...
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Accounting
Chuck, a single taxpayer, earns $75,250 in taxable income and $26,250 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.) (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. If Chuck earns an additional $64,000 of taxable income, what is his marginal tax rate on this income? b. What is his marginal rate if, instead, he had $64,000 of additional deductions?
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