Leonardo, who is married but files separately, earns $82,200 of taxable income. He also has $17,200 in city of Tulsa bonds. His wife, Theresa, earns $52,200 of taxable income.If Leonardo earned an additional $32,200 of taxable income this year, what would be the marginal tax rate on the extra income for 2020? (Use tax rate schedule.) (Round your final answer to two decimal places.)
A) 22.16 percent
B) 18.97 percent
C) 24.16 percent
D) 23.79 percent
E) None of the choices are correct
Correct Answer:
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