Figure 2.41 shows the 2016 U.S. federal income tax rates for the four different types of filing status. Suppose an individual is single. Write one logical IF function that will determine the correct tax rate for any income that is entered in cell B3 of a spread sheet. Implement this on a spreadsheet and verify its correctness.

Figure 2.41

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1. Single Up to $9,275 $9,276 to $37,650 $37,651 to $190,150 $91,151 to $190,150 $190,151 to $413,350 $413,351 to $415,050 $415,051 or more 2. Married filing jointly or qualifying widow/widower Up to $18,550 $18,551 to $75,300 $75,301 to $151,900 $151,901 to $231,450 $231,451 to $413,350 $413,351 to $466,950 $466,951 or more 3. Married filing separately Up to $9,275 $9,276 to $37,650 $37,651 to $75,950 $75,951 to $115,725 $115,726 to $206,675 $206,676 to $233,476 $233,476 or more 4. Head of household Up to $13,250 $13,251 to $50,400 $500,401 to $130,150 $130,151 to $210,800 $210,801 to $413,350 $413,351 to $441,000 $441,001 or more Tax rate 10% 15% 25% 28% 33% 35% 39.60%