Marc, a Single Taxpayer, Earns $60,000 in Taxable Income and $5,000

question 23

Multiple Choice

Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate schedule for year 2020, what is his current marginal tax rate? (Use tax rate schedule.)

• A)12.00 percent
• B)22.00 percent
• C)24.00 percent
• D)32.00 percent
• E)None of the choices are correct