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

question 26

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 earned an additional $30,000 of taxable income this year, what would be the marginal tax rate on the extra income for 2020? (Use tax rate schedule.) (Round your final answer to two decimal places.)

• A)22.00 percent
• B)18.81 percent
• C)24.00 percent
• D)23.62 percent
• E)None of the choices are correct

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Definitions:

Sp Hybridized

Describes molecules where carbon atoms are bonded through a linear combination of one s-orbital and one p-orbital, leading to a bond angle of approximately 180 degrees.

Hybrid Atomic Orbitals

Orbitals formed by the mixing of atomic orbitals in an atom, leading to equivalent orbital shapes suited for bonding.

C-C σ Bond

A single bond formed between two carbon atoms due to the overlap of sp3 hybrid orbitals.

Acetaldehyde

An organic chemical compound with the formula CH3CHO, known as the simplest aldehyde after formaldehyde, used in various industrial processes.