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

question 7

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 instead had $30,000 of additional tax deductions for year 2018, his marginal tax rate (rounded) on the deductions would be: (Use tax rate schedule)

• A) 12.00%
• B) 13.88%
• C) 22.00%
• D) 16.37%
• E) None of the choices are correct.

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Definitions:

Erythromycin

An antibiotic used to treat a variety of bacterial infections by inhibiting protein synthesis of bacteria.

Po Q6h

A medical instruction indicating that a medication should be taken orally every six hours.

Pounds

A unit of weight in the imperial system, equivalent to 0.4536 kilograms.

Kg

An acronym for kilogram, a unit of mass in the International System of Units (SI), equivalent to approximately 2.20462 pounds.