Marc, a Single Taxpayer, Earns $122,000 in Taxable Income and $3,800

question 20

Multiple Choice

Marc, a single taxpayer, earns $122,000 in taxable income and $3,800 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate schedule for year 2020, what is his current marginal tax rate?(Use tax rate schedule.)

• A)14.00 percent
• B)24.00 percent
• C)26.00 percent
• D)34.00 percent
• E)None of the choices are correct

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