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Question No. 2: Part - A: Marks 13) In USA there are seven federal tax brackets for the 2020 tax year: 10%, 12% 22% 24% 32% 35% and 37%. Your bracket depends on your taxable income and filing status. These are the rates for taxes due in April 20 21 if you are a single filer. Taxable income Tax Rate 10% 12% 22% $0 to $9.875 $9.876 to $40.125 $40.1 26 to $85.525 $85.526 to $163,300 $763,301 to $207,350 $207,351 to $518,400 $518.407 or more 24% 32% 35% 37% Table z a) Create a Mathematical model that represents the aforementioned information to calculate the annual income tax of each slab. b) How much annual income tax you will have to pay if your monthly taxable income is $13,750 Part - 8: Marks 2) A major city wants to establish a sinking fund to pay off debts of PKR 800 million which come due in 10 years. The city can earn interest at the rate of 8 percent per year compounded monthly. If first deposit is made / month from now; a) What monthly deposit will be required to accumulate the PKR 800 million? b) How much interest will be earned on these deposits