Manny, a single taxpayer, earns $68,400 per year in taxable income and an additional $12,340 per year in city of Boston bonds. If Manny earns an additional $38,600 in taxable income in 2020, what is his marginal tax rate on this income? (Use tax rate schedule.)(Round your final answer to two decimal places.)
A)17.92 percent
B)22.00 percent
C)23.11 percent
D)24.00 percent
E)None of the choices are correct

Question

Quizplus · Accepted Answer

Manny's taxable income is $68,400 + $38,600 = $107,000. His marginal tax rate is 23.11%.

Manny, a Single Taxpayer, Earns $68,400 Per Year in Taxable