Jessica and Greg are married and file a joint return. They expect $380,000 of taxable income in the next year and are considering whether to purchase a personal residence that would provide aditional tax deductions of 76,000 for mortgage and real estate taxes
The marginal rate is ___% if the personal residence is not purchased and is ___ % if the personal residence is purchased
What is the tax savings if residence is aquired? (round to the nearest cent)
Tax without purchase of personal residence ____
Tax with purchase of personal residence _____
Tax savings ____