Leonardo, Who Is Married but Files Separately, Earns $63,000 of Taxable

question 117

Multiple Choice

Leonardo, who is married but files separately, earns $63,000 of taxable income. He also has $16,400 in city of Tulsa bonds. His wife, Theresa, earns $51,400 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)14.51 percent
• C)19.11 percent
• D)22.00 percent
• E)None of the choices are correct.

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Definitions:

Quartet

A pattern of four peaks observed in nuclear magnetic resonance (NMR) spectroscopy, typically arising from a hydrogen atom coupled with three equivalent hydrogens.

Doublet

A pair of closely spaced lines or signals observed in spectroscopy, indicating the splitting of a spectral line into two components.

NMR Data

Data derived from Nuclear Magnetic Resonance spectroscopy, utilized to identify the configuration of molecules.

Quartet

A signal in NMR (Nuclear Magnetic Resonance) spectroscopy indicating the presence of three equivalent protons coupled to the observed nucleus, typically resulting in a pattern of four peaks.