Leonardo, who married but files separately, earns $80,400 of taxable income. He also has $15,400...
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Leonardo, who married but files separately, earns $80,400 of taxable income. He also has $15,400 In city of Tulsa bonds. His wife, Theresa, earns $50,400 of taxable income. If Leonardo earned an additional $30,400 of taxable income this year, what would be the marginal tax rate on the extra income for 2020? (Use tax rate schedule. (Round your final answer to two decimal places.) Multiple Choice 22.03 percent 18.84 percent 24.03 percent O 23.66 percent O None of the choices are correct Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: S 0 $ 9,875 10% of taxable income $ 9,875 $ 40,125 $987.50 plus 12% of the excess over $9,875 $ 40,125 $ 85,525 $4.617.50 plus 22% of the excess over $40.125 $ 85,525 $163,300 $14.605.50 plus 24% of the excess over $85,525 $163,300 $207,350 $33,271.50 plus 32% of the excess over $163,300 $207,350 $311,025 $47,367.50 plus 35% of the excess over $207,350 $311,025 $83.653.75 plus 37% of the excess over $311,025 Thino horn to nonrch PI
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