Question: Please use excel and show me how to do this using goal seek and how to solve for the 28% tax rate. Question 2 (a)

Please use excel and show me how to do this using goalPlease use excel and show me how to do this using goal seek and how to solve for the 28% tax rate.

Question 2 (a) Modify the Millers' Tax Computation program in Figure 1.2 to include the next higher tax bracket: 28% for earnings between $153,101 and Z233,350. (b) Suppose that Sue's estimated income is now $120,000, and Rob's is $80,200. What will Font heir new estimated tax per quarter? Figure 1.2 Millers' Tax Computation Known Parameters Retirement Savings % Maximum savings Personal exemption Standard deduction Tax rates per person 7.0% $8,000 $4,050 $12.700 10.0% 15.0% 25.0% $1 to $18,650 $18,651 to $75,900 $75,901 to $153,100 Variables Sue's estimated income Rob's estimated income $65,000.00 $60,000.00 $125,000.00 $8,000.00 $8,100.00 $12,700.00 Tax Computation Total income Retirement savings Personal exemptions Standard deduction Taxable income Tax @ 10% rate Tax @ 15% rate Tax @ 25% rate Total tax Estimated tax per quarter $96,200.00 $1,865.00 $8,587.50 $5,075.00 $15,527.50 $3,881.88 Question 2 (a) Modify the Millers' Tax Computation program in Figure 1.2 to include the next higher tax bracket: 28% for earnings between $153,101 and Z233,350. (b) Suppose that Sue's estimated income is now $120,000, and Rob's is $80,200. What will Font heir new estimated tax per quarter? Figure 1.2 Millers' Tax Computation Known Parameters Retirement Savings % Maximum savings Personal exemption Standard deduction Tax rates per person 7.0% $8,000 $4,050 $12.700 10.0% 15.0% 25.0% $1 to $18,650 $18,651 to $75,900 $75,901 to $153,100 Variables Sue's estimated income Rob's estimated income $65,000.00 $60,000.00 $125,000.00 $8,000.00 $8,100.00 $12,700.00 Tax Computation Total income Retirement savings Personal exemptions Standard deduction Taxable income Tax @ 10% rate Tax @ 15% rate Tax @ 25% rate Total tax Estimated tax per quarter $96,200.00 $1,865.00 $8,587.50 $5,075.00 $15,527.50 $3,881.88

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