Income Tax The original U.S. income tax of 1913 was quite simple. The tax was: ● 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. There was no separate schedule for single or married taxpayers. Write a program that computes the income tax according to this schedule.
Max Function
Statistical function is of many categories. One of them is a MAX function. The MAX function returns the largest value from the list of arguments passed to it. MAX function always ignores the empty cells when performing the calculation.
Power Function
A power function is a type of single-term function. Its definition states that it is a variable containing a base value raised to a constant value acting as an exponent. This variable may also have a coefficient. For instance, the area of a circle can be given as:
Income Tax
The original U.S. income tax of 1913 was quite simple. The tax was:
● 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.
There was no separate schedule for single or married taxpayers. Write a
computes the income tax according to this schedule.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
