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

question 2

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 earned an additional $30,000 of taxable income this year, what would be the marginal tax rate (rounded) on the extra income for year 2016?

• A) 27.75%
• B) 17.50%
• C) 25.00%
• D) 28.00%
• E) None of these

Recognize the importance of analyzing audience and purpose in writing.

Identify the process of developing, organizing, and presenting a persuasive argument.

Learn the importance of revision in the writing process.

Differentiate between effective and substandard dimensions of writing.

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Definitions:

Expenses

The costs incurred in the day-to-day operations of an organization.