Using Excel to find the marginal tax rate can be accomplished using the VLOOKUP function. However, calculating the total tax bill is a little more difficult. Below we have shown a copy of the IRS tax table for an unmarried individual for 2018. Often, tax tables are presented in this format.

If taxable income is over	But not over …	The tax is:
$ 0	$ 9,525	10% of the amount over $0
9,526	38,700	$952.50 plus 15% of the amount over $9,525
38,701	93,700	$5,328.75 plus 25% of the amount over $38,700
93,701	195,450	$19,078.75 plus 28% of the amount over $93,700
195,451	424,950	$47,568.75 plus 33% of the amount over $195,450
424,951	426,700	$123,303.75 plus 35% of the amount over $424,950
426,701		$123,916.25 plus 39.6% of the amount over $426,700

In reading this table, the marginal tax rate for taxable income less than $9,525 is 10 percent. If the taxable income is between $9,525 and $38,700, the tax bill is $952.50 plus the marginal taxes. The marginal taxes are calculated as the taxable income minus $9,525 times the marginal tax rate of 15 percent.

Below, we have the corporate tax table that was applicable 2017 and as shown in Table 2.3.

Taxable income is greater than or equal to…	But less than…	Tax rate
$ 0	$ 50,000	15%
50,001	75,000	25
75,001	100,000	34
100,001	335,000	39
335,001	10,000,000	34
10,000,001	15,000,000	35
15,000,001	18,333,333	38
18,333,334		35

a. Create a tax table in Excel for corporate taxes similar to the individual tax table shown above. Your spreadsheet should then calculate the marginal tax rate, the average tax rate, and the tax bill for any level of taxable income input by a user.
b. For a taxable income of $1,350,000, what is the marginal tax rate?
c. For a taxable income of $1,350,000, what is the total tax bill?
d. For a taxable income of $1,350,000, what is the average tax rate?