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

question 93

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 2013,his marginal tax rate (rounded) on the deductions would be:

• A)28.00%
• B)25.00%
• C)27.75%
• D)23.89%
• E)None of these

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Definitions:

Horsepower

A measure of power for electric and mechanical devices.

Electrical Power

The rate at which electrical energy is transferred by an electric circuit, typically measured in watts (W).

Velocity

Velocity is a vector quantity that represents the rate of change of an object's position with respect to time, including both speed and direction of movement.

Speed of Light

The speed at which light travels in a vacuum, approximately 299,792 kilometers per second.