Determine what is marginal tax rate on the income

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Campbell, a single taxpayer, earns $400,000 in taxable income and $2,000 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule).

Required:

Question 1: If Campbell earns an additional $15,000 of taxable income, what is her marginal tax rate on this income?

Question 2: What is her marginal rate if, instead, she had $15,000 of additional deductions?

Reference no: EM132483126

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