Chuck, a single taxpayer, earns $78,600 in taxable income and


Chuck, a single taxpayer, earns $78,600 in taxable income and $13,800 in interest from an investment in City of Heflin bonds. (Use the U.S tax rate schedule.)


  1. How much federal tax will he owe?
  2. What is his average tax rate?
  3. What is his effective tax rate?
  4. What is his current marginal tax rate?

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