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Scot and Vidia, married taxpayers, earn $240,000 in taxable income and $5,000 in interest from...

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Accounting

Scot and Vidia, married taxpayers, earn $240,000 in taxable income and $5,000 in interest from an investment in City of Tampa bonds with $80,000 in deductions . Using the U.S. 2024 tax rate schedule for married filling jointly how much federal tax will they owe? What is their average tax rate? What is their effective rate? What is their current marginal tax rate? if Scot and Vidia earn an additional $80,000 of taxable income, what is their marginal tax rate on this income?

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