Question: Please USE EXCEL SOLVER TO SOLVE THIS QUESTION: The city council of Aberdeen must determine the tax policy for the city for the coming year.

Please USE EXCEL SOLVER TO SOLVE THIS QUESTION:Please USE EXCEL SOLVER TO SOLVE THIS QUESTION: The city council ofAberdeen must determine the tax policy for the city for the coming

The city council of Aberdeen must determine the tax policy for the city for the coming year. Four types of taxes are used to raise money: Property tax Sales tax (a surcharge on the state sales tax) . Entertainment tax Utility tax (on city-owned utliies) The city consists of three groups of people: low income, middle income, and high income. The amount of revenue (in thousands of dollars) raised from each group by setting a particular tax at a 1 percent level is given in the following table. (For example, a 3 percent sales tax will raise $1.2 million from low-income people.) Thousands of Dollars Collected per 1% Tax Rate Income Group Property Tax 600 800 1,200 Sales Tax 400 350 250 Entertainment Tax 50 100 120 Utility Tax 100 120 80 Middle-income High-income The city council has decided that the tax policy must satisfy the following restrictions The tax burden on middle-income people cannot exceed $2.5 million .The tax burden on high-income people cannot exceed $2.3 million .The total revenue raised must exceed the current level of $6 million The sales tax must be between 1 percent and 3 percent. The city council of Aberdeen must determine the tax policy for the city for the coming year. Four types of taxes are used to raise money: Property tax Sales tax (a surcharge on the state sales tax) . Entertainment tax Utility tax (on city-owned utliies) The city consists of three groups of people: low income, middle income, and high income. The amount of revenue (in thousands of dollars) raised from each group by setting a particular tax at a 1 percent level is given in the following table. (For example, a 3 percent sales tax will raise $1.2 million from low-income people.) Thousands of Dollars Collected per 1% Tax Rate Income Group Property Tax 600 800 1,200 Sales Tax 400 350 250 Entertainment Tax 50 100 120 Utility Tax 100 120 80 Middle-income High-income The city council has decided that the tax policy must satisfy the following restrictions The tax burden on middle-income people cannot exceed $2.5 million .The tax burden on high-income people cannot exceed $2.3 million .The total revenue raised must exceed the current level of $6 million The sales tax must be between 1 percent and 3 percent

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