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Leonardo Earns $80,000 of Taxable Income

Question 57

Multiple Choice

Leonardo earns $80,000 of taxable income. He also has $15,000 in city of Tulsa bonds. His 7w7i) fe, Theresa, earns $50,000 of taxable income.If Leonardo and his wife file married filing jointly in 2017, what would be their average tax rate? (Use tax rate schedule.)


A) 25.00%
B) 18.44%
C) 23.47%
D) 15.00%
E) None of the choices are correct.

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