Part $2(70\%)$:

Below are the $2024$ tax brackets for single American taxpayers:

a$)$ Build this table in Excel. Have the 'user' select their marital status $($single or married filing jointly$)$

from a data validation list which you should have in a cell.

b$)$ Have the 'user' also plug in their salary into a cell.

c$)$ In another cell, use a lookup function to determine and output the marginal tax rate based on their status

and salary.

Note: the marginal tax rate is defined as the tax rate that applies to the last unit of the tax base. For

example, if your income is $$25,000,$ your marginal tax rate is $12\%.$ Your lookup function should be

flexible enough to output the correct answer for a multitude of different salaries.

d$)$ Build a lookup function that calculates the amount of tax owed, for any given salary.

For example, if you are single and your income is $$25,000$ the tax owed is:

of $(25,000-11,600)$ total tax owed.

e$)$ When employees contribute to a $401$ k plan to save for retirement, they are only taxed on the income

after the retirement contribution. If a single worker earns $$60,000,$ how much does she pay in tax? Now

if she decides to contribute $22\%$ to her $401$ k $,$ what happens to her tax payment? How much tax does she

pay? Is she in the same marginal rate? Please help me solve part e only