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

question 102

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 instead had $31,400 of additional tax deductions for 2020, his marginal tax rate on the deductions would be: (Use tax rate schedule.) (Round your final answer to two decimal places.)

• A)9)28 percent
• B)20.90 percent
• C)19.28 percent
• D)21.28 percent
• E)None of the choices are correct

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Definitions:

Purchase Behaviors

The decision-making processes and acts of consumers in buying and using products.

Shared Stage

A phase or platform where multiple entities or individuals contribute to or engage in collective actions or performances.

Digital Natives

Individuals who are born or brought up during the age of digital technology and are therefore familiar with computers and the Internet from an early age.

Generational Cohort

A group of people born during a certain period who share similar cultural experiences, behaviors, and values.