Write a program that reads the income of a user and computes his/her income taxes according to the following schedule. Your program should then display the income tax for the user. Negative incomes should not be accepted. 1% on the first $50,000 2% on the amount over $50,000 up to $75,000 3% on the amount over $75,000 up to $100,000 4.5% on the amount over $100,000 up to $500,000 6% on the amount over $500,000

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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Write an algorithm, input,output,comment and design a program
Exercise 7:
Write a program that reads the income of a user and computes his/her income taxes according to the
following schedule. Your program should then display the income tax for the user. Negative incomes
should not be accepted.
1% on the first $50,000
2% on the amount over $50,000 up to $75,000
3% on the amount over $75,000 up to $100,000
4.5% on the amount over $100,000 up to $500,000
6% on the amount over $500,000
Please enter the amount of your annual income: $135500
Your income tax is $3347.50
Figure 8: Sample run of Exercise 7
Transcribed Image Text:Exercise 7: Write a program that reads the income of a user and computes his/her income taxes according to the following schedule. Your program should then display the income tax for the user. Negative incomes should not be accepted. 1% on the first $50,000 2% on the amount over $50,000 up to $75,000 3% on the amount over $75,000 up to $100,000 4.5% on the amount over $100,000 up to $500,000 6% on the amount over $500,000 Please enter the amount of your annual income: $135500 Your income tax is $3347.50 Figure 8: Sample run of Exercise 7
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