[ANSWERED] Marginal Tax Rate. Jill and George are married and file a joint return. They expect to have $425,000

Marginal Tax Rate. Jill and George are married and file a
joint return. They expect to have $425,000 of taxable income in the next year
and are considering whether ro purchase a personal residence that would provide
additional tax deductions of $40,000 for mortgage interest and real estate
taxes.
a. What is their marginal tax rate for purposes of making
chis decision?
b. What is the tax savings if the residence is acquired?