Leonardo,who Is Married but Files Separately,earns $80,000 of Taxable Income

question 69

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:

Remembering

The process of retrieving information or experiences from the past, involving various cognitive mechanisms and parts of the brain.

Decoding

The process of interpreting and making sense of a message or symbol system, such as reading or understanding spoken language.

Recall

The process of retrieving information from memory without the aid of cues.

Flashbulb Memories

Detailed and vivid memories of surprising and emotionally significant events that appear to be recorded in the mind like a photograph.