Question: Define a Python function named calculate_tax which accepts one parameter, income, and returns the income tax. Income is taxed according to the following rule: the

 Define a Python function named calculate_tax which accepts one parameter, income,

Define a Python function named calculate_tax which accepts one parameter, income, and returns the income tax. Income is taxed according to the following rule: the first $50,000 is taxed at 10% and any remaining income is taxed at 20%. For example, calculate_tax (4 0000) should return 40,000 times 0.1 = 4,000, while calculate_tax (100000) should return 50,000 times 0.1 + 0.2 times 15,000. Do not be concerned about formatting the numeric result

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Databases Questions!