Leonardo, Who Is Married but Files Separately, Earns $80,000 of Taxable

question 56

Multiple Choice

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 and his wife file married filing jointly in 2019, What is Leonardo and Theresa's effective tax rate for 2019 (rounded) ? (Use tax rate schedule.)

• A)12.00 percent
• B)15.63 percent
• C)21.04 percent
• D)22.00 percent
• E)None of the choices are correct

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Definitions:

Ecosystem Function

The natural processes and interactions that maintain the biodiversity and balance within an ecosystem, such as nutrient cycling and energy flow.

Decomposers

Organisms that break down dead or decaying organisms, and in doing so, carry out the natural process of decomposition.

Photosynthesis

Process, usually occurring within chloroplasts, that uses solar energy to reduce carbon dioxide to carbohydrate.

Autotroph

Organism that can capture energy and synthesize organic molecules from inorganic nutrients.