Answered: Use the following: basic input and…

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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Use the following: basic input and output, expressions, variables, and assignments, the math and random libraries， expressions, variables, and assignments; mathematical calculations that do not require the use of a library，

Other Python statements cannot be used, e.g. def

Transcribed Image Text:Question 4 (hw2_q4.py): Assume you work for a software company writing tax software. Specifically, your job in quality assurance is to test the program with various inputs and produce the results to compare to our final product that the customer uses. Write a program that will randomly select a number of values that represent a user's financial profile. Calculate the tax owed or to be refunded by the user given these values. First, the program should randomly create two values representing the user and user's spouses' income. These values should be in the range of $45,203.03 and $165,286.49 (inclusive). This is the couple's combined base income. Next, calculate the total amount of any tip income the couple earned. This value should be between $0 and $12,340.00 (inclusive). The combined income of the couple is the sum of all these income values. From this we need to determine the amount of tax that should be paid on the income. Assume the tax rate is 28.5% of the base income. This value is essentially what the user and spouse owes. However, they can receive a $2,500 per child credit. Randomly determine the number of children in the household (between 0 and 3 inclusive) and deduct this amount from the amount of tax owed. For example, if the couple owes $4,000 in taxes and has 1 child, then the $2,500 tax credit lowers the amount of tax they owe to be $1,500. Finally, since the user and spouse have had a portion of their salaries deducted each paycheck to pay the taxes, we need to calculate each of the amount of taxes paid through payroll deductions. These amounts are 25.0% of their salary. Calculate each of these amounts and calculate the total amount of tax paid through payroll deductions. Our final result (the amount of outstanding tax they or will be refunded in the event of overpayment) can be calculated by subtracting the amount of tax paid through payroll deductions from the total amount of tax owed (after deducting the child tax credit). Confused? Walk through our examples carefully. Your program should print output in the format shown below. Yes, dollar signs and not more than two places of precision should be shown for all monetary amounts. Commas are not required for monetary amounts. Spacing and formatting matter, so replicate our formatting exactly. Print all results as the program executes (incoming amounts, number of children, etc.), just as we have done and shown. All values should be rounded prior to performing mathematical calculations on them, not just before printing.

Example executions
The user's income is $63069.57
The user's spouse's income is $153514.16
The couple's combined base income is $216583.73
The couple's tip income is $11462.08
The couple's total combined income is $228045.81
The amount of tax owed on $228045.81 is $64993.06
The couple has 4 kid(s). Therefore, the amount of tax owed after the child
tax credit is $54993.06
The user had $15767.39 withheld from their paycheck.
The spouse had $38378.54 withheld from their paycheck.
The total amount withheld from payroll deductions is $54145.93
The couple's tax liability is $847.13
If the above amount is positive, the couple receives a refund.
If the above amount is negative, the couple owes that amount.
The user's income is $146266.31
The user's spouse's income is $95182.9
The couple's combined base income is $241449.21
The couple's tip income is $4700.06
The couple's total combined income is $246149.27
The amount of tax owed on $246149.27 is $70152.54
The couple has 4 kid(s). Therefore, the amount of tax owed after the child
tax credit is $60152.54
The user had $36566.58 withheld from their paycheck.
The spouse had $23795.72 withheld from their paycheck.
The total amount withheld from payroll deductions is $60362.3
The couple's tax liability is $-209.76
If the above amount is positive, the couple receives a refund.
If the above amount is negative, the couple owes that amount.

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