Leonardo, who is married but files separately, earns $80,000 of taxable income.He also has $15,000 in city of Tulsa bonds.His wife, Theresa, earns $50,000 of taxable income. If Leonardo earned an additional $30,000 of taxable income this year, what would be the marginal tax rate (rounded) on the extra income for 2019? (Use tax rate schedule.)
A) 22.00 percent
B) 18.81 percent
C) 24.00 percent
D) 23.72 percent
E) None of the choices are correct
Correct Answer:
Verified
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