Leonardo, Who Is Married but Files Separately, Earns $70,500 of Taxable

question 2

Multiple Choice

Leonardo, who is married but files separately, earns $70,500 of taxable income. He also has $19,400 in city of Tulsa bonds. His wife, Theresa, earns $54,400 of taxable income. If Leonardo and his wife are married filing jointly in 2020, what is Leonardo and Theresa's effective tax rate for 2020? (Use tax rate schedule.) (Round your final answer to two decimal places.)

• A)12.00 percent
• B)14.92 percent
• C)19.52 percent
• D)22.00 percent
• E)None of the choices are correct.

---

Definitions:

External Communication

The process of sharing information between an organization and outside entities or the public.

Organizational Pattern

The structure or arrangement of ideas and elements within a text, speech, or document, aiding in clarity and comprehension.

Bad News

Bad News is a term used to describe information that is unpleasant, disappointing, or unfavorable, often requiring careful communication.

Superiors

Individuals who hold higher positions or ranks within an organizational hierarchy, often with authority or supervisory responsibilities over others.