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Excel Master It! Problem xlsx Using Excel to find the marginal tax rate can be accomplished using the VLOOKUP function. However, calculating the total tax bill is a little more difficult. Below we have shown a copy of the IRS tax table for an unmarried individual for 2018. Often, tax tables are presented in this format. If taxable income is But not over ... over ... The tax is: 0 $ 9,525 10% of the amount over $0 9,526 38,700 $952.50 plus 15% of the amount over $9,525 38,701 93,700 $5,328.75 plus 25% of the amount over $38,700 93,701 195,450 $19,078.75 plus 28% of the amount over $93,700 195,451 424,950 $47,568.75 plus 33% of the amount over $195,450 424.951 426,700 $123,303.75 plus 35% of the amount over $424.950 426,701 $123,916.25 plus 39.6% of the amount over $426,700 In reading this table, the marginal tax rate for taxable income less than $9,525 is 10 percent. If the taxable income is between $9,525 and $38,700, the tax bill is $952.50 plus the marginal taxes. The marginal taxes are calculated as the taxable Page income minus $9,525 times the marginal tax rate of 15 percent.

Excel Master It! Problem xlsx Using Excel to find the marginal tax rate can be accomplished using the VLOOKUP function. However, calculating the total tax bill is a little more difficult. Below we have shown a copy of the IRS tax table for an unmarried individual for 2018. Often, tax tables are presented in this format. If taxable income is But not over ... over ... The tax is: 0 $ 9,525 10% of the amount over $0 9,526 38,700 $952.50 plus 15% of the amount over $9,525 38,701 93,700 $5,328.75 plus 25% of the amount over $38,700 93,701 195,450 $19,078.75 plus 28% of the amount over $93,700 195,451 424,950 $47,568.75 plus 33% of the amount over $195,450 424.951 426,700 $123,303.75 plus 35% of the amount over $424.950 426,701 $123,916.25 plus 39.6% of the amount over $426,700 In reading this table, the marginal tax rate for taxable income less than $9,525 is 10 percent. If the taxable income is between $9,525 and $38,700, the tax bill is $952.50 plus the marginal taxes. The marginal taxes are calculated as the taxable Page income minus $9,525 times the marginal tax rate of 15 percent.

Computer Networking: A Top-Down Approach (7th Edition)
Computer Networking: A Top-Down Approach (7th Edition)
7th Edition
ISBN:9780133594140
Author:James Kurose, Keith Ross
Publisher:James Kurose, Keith Ross
Chapter1: Computer Networks And The Internet
Section: Chapter Questions
Problem R1RQ: What is the difference between a host and an end system? List several different types of end...
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Excel Master It! Problem xlsx Using Excel to find the marginal tax rate can be accomplished using the VLOOKUP function. However, calculating the total tax bill is a little more difficult. Below we have shown a copy of the IRS tax table for an unmarried individual for 2018. Often, tax tables are presented in this format. If taxable income is But not over ... over ... The tax is: 2$ $ 9,525 10% of the amount over $0 9,526 38,700 $952.50 plus 15% of the amount over $9,525 38,701 93,700 $5,328.75 plus 25% of the amount over $38,700 93,701 195,450 $19,078.75 plus 28% of the amount over $93,700 195,451 424,950 $47,568.75 plus 33% of the amount over $195,450 424,951 426,700 $123,303.75 plus 35% of the amount over $424,950 426,701 $123,916.25 plus 39.6% of the amount over $426,700 In reading this table, the marginal tax rate for taxable income less than $9,525 is 10 percent. If the taxable income is between $9,525 and $38,700, the tax bill is $952.50 plus the marginal taxes. The marginal taxes are calculated as the taxable income minus $9,525 times the marginal tax rate of 15 percent. Page
Transcribed Image Text:Excel Master It! Problem xlsx Using Excel to find the marginal tax rate can be accomplished using the VLOOKUP function. However, calculating the total tax bill is a little more difficult. Below we have shown a copy of the IRS tax table for an unmarried individual for 2018. Often, tax tables are presented in this format. If taxable income is But not over ... over ... The tax is: 2$ $ 9,525 10% of the amount over $0 9,526 38,700 $952.50 plus 15% of the amount over $9,525 38,701 93,700 $5,328.75 plus 25% of the amount over $38,700 93,701 195,450 $19,078.75 plus 28% of the amount over $93,700 195,451 424,950 $47,568.75 plus 33% of the amount over $195,450 424,951 426,700 $123,303.75 plus 35% of the amount over $424,950 426,701 $123,916.25 plus 39.6% of the amount over $426,700 In reading this table, the marginal tax rate for taxable income less than $9,525 is 10 percent. If the taxable income is between $9,525 and $38,700, the tax bill is $952.50 plus the marginal taxes. The marginal taxes are calculated as the taxable income minus $9,525 times the marginal tax rate of 15 percent. Page
Below, we have the corporate tax table that was applicable 2017 and as shown in Table 2.3 (e Taxable income is greater than or But equal to... less than... Тах rate 24 50,000 15% 50,001 75,000 25 75,001 100,000 34 100,001 335,000 39 335,001 10,000,000 34 10.000,001 15,000,000 35 15,000,001 18,333,333 38 18.333.334 35 a. Create a tax table in Excel for corporate taxes similar to the individual tax table shown above. Your spreadsheet should t calculate the marginal tax rate, the average tax rate, and the tax bill for any level of taxable income input by a user. b. For a taxable income of $1.350,000, what is the marginal tax rate? c. For a taxable income of $1,350,000, what is the total tax bill? d. For a taxable income of S1,350,000, what is the average tax rate?
Transcribed Image Text:Below, we have the corporate tax table that was applicable 2017 and as shown in Table 2.3 (e Taxable income is greater than or But equal to... less than... Тах rate 24 50,000 15% 50,001 75,000 25 75,001 100,000 34 100,001 335,000 39 335,001 10,000,000 34 10.000,001 15,000,000 35 15,000,001 18,333,333 38 18.333.334 35 a. Create a tax table in Excel for corporate taxes similar to the individual tax table shown above. Your spreadsheet should t calculate the marginal tax rate, the average tax rate, and the tax bill for any level of taxable income input by a user. b. For a taxable income of $1.350,000, what is the marginal tax rate? c. For a taxable income of $1,350,000, what is the total tax bill? d. For a taxable income of S1,350,000, what is the average tax rate?
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