Leonardo, Who Is Married but Files Separately, Earns $72,000 of Taxable

question 129

Multiple Choice

Leonardo, who is married but files separately, earns $72,000 of taxable income. He also has $20,000 in city of Tulsa bonds. His wife, Theresa, earns $55,000 of taxable income. If Leonardo and his wife file married filing jointly in 2020, what would be their average tax rate?(Use tax rate schedule.) (Round your final answer to two decimal places.)

• A)12.00 percent
• B)22.00 percent
• C)15.37 percent
• D)22.42 percent
• E)None of the choices are correct

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Definitions:

In Situ

Denotes a condition or process occurring in its original place or position.

Ductal Carcinoma

A type of breast cancer that begins in the cells of the ducts.

Carcinoma

A type of cancer that begins in the skin or in tissues that line or cover internal organs.

Ductal

Pertaining to or involving ducts in the body, such as those in the glands, pancreas, or mammary glands.