Leonardo 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 and his wife file married filing jointly in 2016, what would be their average tax rate (rounded) ?
A) 15.00%
B) 25.00%
C) 18.49%
D) 23.54%
E) None of these
Correct Answer:
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