Heather,a single taxpayer who files as a head of household,earns $60,000 in taxable income and $5,000 in interest from an investment in city of Oxford Bonds.Using the U.S.tax rate schedule for year 2013,how much federal tax will she owe? What is her average tax rate? What is her effective tax rate? What is her current marginal tax rate? If Heather has an additional $20,000 of tax deductions,what is her marginal tax rate on these deductions? (Round the tax rates to 2 decimal places,e.g. ,.12345 as 12.35%)
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