6. Suppose the tax rate for residents is defined as follows. A person with an income...
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6. Suppose the tax rate for residents is defined as follows. A person with an income of (i) $20,000 or less pays no tax; (ii) more than $20,000 but not more than $40,000 pays 15% of the income over $20,000; (iii) more than $40,000 but not more than $80,000 pays $3,000 plus 22% of the income over $40,000; (iv) more than $80,000 pays $11,800 plus 29% of the income over $80,000. Place these values in an appropriately organized table. (a) Draw a well-labeled graph showing income and taxes. (b) Create a cell where the user can enter his/her income and the taxes are calculated automatically and displayed in the adjacent cell. Test your result using an income of $75,000. 6. Suppose the tax rate for residents is defined as follows. A person with an income of (i) $20,000 or less pays no tax; (ii) more than $20,000 but not more than $40,000 pays 15% of the income over $20,000; (iii) more than $40,000 but not more than $80,000 pays $3,000 plus 22% of the income over $40,000; (iv) more than $80,000 pays $11,800 plus 29% of the income over $80,000. Place these values in an appropriately organized table. (a) Draw a well-labeled graph showing income and taxes. (b) Create a cell where the user can enter his/her income and the taxes are calculated automatically and displayed in the adjacent cell. Test your result using an income of $75,000.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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