Question: l ) In cell E 1 3 , retrieve the income limit from the appropriate tax table. Use a nested IF function with Vlookup inside
l In cell E retrieve the income limit from the appropriate tax table. Use a nested IF function with Vlookup
inside the IF functions to retrieve the first column from the appropriate tax rate table. The formula is
identical to the formula inside the Marginal Tax Rate cell D except for retrieving the first column.
Extend the formula to cells E:E Format the cells as Currency with zero decimal digits.
m In cell F retrieve the base tax from the appropriate tax table. Use a nested IF function with Vlookup
inside the IF functions to retrieve the third column from the appropriate tax rate table. The formula is
identical to the formula inside the Marginal Tax Rate cells except for retrieving the third column. Extend
the formula to cells F:F Format the cells as Currency with zero decimal digits.
n In cell G compute the tax amount as the base tax amount plus the marginal tax rate times the marginal
income income greater than income limit The marginal income is the income minus the income limit
Extend the formula to cells G:G Format the cells as Currency with zero decimal digits.
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