Develop an algorithm, using Raptor, to calculate the Canadian federal income tax for any given income provided as input to the algorithm. The Canadian Federal income tax rates for 2020 are:

• 15% on the first $48,535 of taxable income, plus
• 20.5% on the next $48,534 of taxable income (on the portion of taxable income over 48,535 up to $97,069), plus
• 26% on the next $53,404 of taxable income (on the portion of taxable income over $97,069 up to $150,473), plus
• 29% on the next $63,895 of taxable income (on the portion of taxable income over 150,473 up to $214,368) plus
• 33% of taxable income over $214,368

Please use the Raptor Application for your answer

Thank you