You are given this portion of a tax schedule from a pervious year for single taxpayers with income over $71,950.

a. Model each of the three rows as a simplified equation in y = mx + b form.
b. Create an associated tax computation spreadsheet for the tax schedule using the linear equations you have identified. A template for the worksheet is shown below.

Transcribed Image Text:

If your taxable income is: The tax is: of the amount over But not Over- 71,950 150,150 326.450 over- 150,150 326,450 14,062.50 + 28% 36,598.50 + 33% 94,727.75 + 35% 71,950 150,150 326,450 (a) Enter taxable (b) Multiplication (c) Multiply (d) Subtraction Tax Subtract amount (a)by (b) amount(d)from (c) 1 Taxable Income income At least $71,950 but 2 not over $150,150 Over $150,150 but not 3 over $326,450 4 Over $326,450