Leonardo, who is married but files separately, 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 instead had $30,000 of additional tax deductions for 2023, his marginal tax rate on the deductions would be: (Useitax rate schedule. ********
Leonardo, who is married but files separately, 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 instead had $30,000 of additional tax deductions for 2023, his marginal tax rate on the deductions would be: (Useitax rate schedule. ********
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Leonardo, who is married but files separately, 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 instead had $30,000 of additional tax deductions for 2023, his marginal tax rate on the deductions would be: (Useitax rate schedule f
Multiple Choice
12.00 percent.
15.26 percent.
22.00 percent.
24.00 percent.
None of the choices are correct.
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