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)

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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Question

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?

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