Q2: Write a program that asks the user for income and computes the income tax according to the following table. 1 percent on the first $50,000. 2 percent on the amount over $50,000 up to $75,000. 3 percent on the amount over $75,000 up to $100,000. 4 percent on the amount over $100,000 up to $250,000. 5 percent on the amount over $250,000 up to $500,000. 6 percent on the amount over $500,000.

Input/output would be as follows for the sample data:

Enter income: 100000

Income is $100,000.00

Tax is $1,750.00

Enter income: 600000

Income is $600,000.00

Tax is $26,250.00

Enter income: 500000

Income is $500,000.00

Tax is $20,250.00