Using the 2018 tax schedule Scot and Vidia, married taxpayers, earn $244,000 in taxable income...
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Using the 2018 tax schedule Scot and Vidia, married taxpayers, earn $244,000 in taxable income and $5,000 in interest from an investment in City of Tampa bonds. (Use the U.S. tax rate schedule for married filing jointly). Required: If Scot and Vidia earn an additional $91,250 of taxable income, what is their marginal tax rate on this income? What is their marginal rate if, instead, they report an additional $91,250 in deductions? For all requirements, do not round intermediate calculations. Round your answer to 2 decimal places.)
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