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Problem 1-38 (LO 1-3) Jorge and Anita, married taxpayers, earn $406,000 in taxable income and $67,500 in interest from an investment in City of Heflin bonds. Using the U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Federal ta>x Average tax rate Effective tax rate Marginal tax rate

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Ceme with 35. o rat Fderal tax col8 406,boo -67500) x 35%. 芦 118445 Ave Verast tat Yate lable in Lome t18415406,00o 29.18 406

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