Discuss what is his marginal rate if

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Chuck, a single taxpayer, earns $86,000 in taxable income and $20,000 in interest from an investment in City of Heflin bonds. (Use the U.S.tax rate schedule.)

a. If Chuck earns an additional $53,000 of taxable income, what is his marginal tax rate on this income?

b. What is his marginal rate if, instead, he had $53,000 of additional deductions?

Reference no: EM131818666

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