Marc, a single taxpayer, earns $100,000 in taxable income and $10,000 in interest from an investment in city of birmingham bonds. using the u. s. tax rate schedule provided for year 2019, what is his average tax rate (rounded)? (tax rate schedule)

On january 1, year 1, purl corp. purchased as a long-term investment $500,000 face amount of shaw, inc.’s 8% bonds for $456,200. the bonds were purchased to yield 10% interest. the bonds mature on january 1, year 6, and pay interest annually on january 1. purl uses the effective interest method of amortization. what amount (rounded to nearest $100) should purl report on its december 31, year 2, balance sheet for these held-to-maturity bonds?