Manny, a Single Taxpayer, Earns $65,000 Per Year in Taxable

question 25

Multiple Choice

Manny, a single taxpayer, earns $65,000 per year in taxable income and an additional $12,000 per year in city of Boston bonds. If Manny earns an additional $35,000 in taxable income in year 2018, what is his marginal tax rate (rounded) on this income? (Use tax rate schedule)  

• A) 18.29%
• B) 22.00%
• C) 23.00%
• D) 24.00%
• E) None of the choices are correct.

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