Chuck, a single taxpayer, earns $80,750 in taxable income and$30,750 in interest from an investment in City of Heflin bonds.(Use the U.S. tax rate schedule.)
Required: If Chuck earns an additional $64,500 of taxableincome, what is his marginal tax rate on this income? What is hismarginal rate if, instead, he had $64,500 of additionaldeductions?
