Question: Please show formulas Below are the 2021 tax brackets for single American taxpayers: Marginal Tax Rate For Single Individuals For Married Individuals Filing Joint Returns

 Please show formulas Below are the 2021 tax brackets for single

Please show formulas

Below are the 2021 tax brackets for single American taxpayers: Marginal Tax Rate For Single Individuals For Married Individuals Filing Joint Returns 10% $0 to $9,950 $0 to $19,900 12% $9,951 to $40,525 $19,901 to $81,050 22% $40,526 to $86,375 $81,051 to $172,750 24% $86,376 to $164,925 $172,751 to $329,850 32% $164,926 to $209,425 $329,851 to $418,850 35% $209,426 to $523,600 $418,851 to $628,300 37% $523,601 or more $628,301 or more a) Build this table in Excel. Have the user plug in their salary in a cell. In another cell, use a lookup function to determine and output the marginal tax rate, assuming the person is single. 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 was $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. b) Do the same but this time assume the person is married filing jointly. c) Build a lookup function that calculates the amount of tax owed for a single person, for any given salary. For example, if your income is $25,000 the tax owed is: (9950 * 10%) = $995 + (25,000 - 9950) * 12 = $1,806 = $2,801 total tax owed

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