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1 . 1 0 Use an IF function with nested VLOOKUP functions to calculate the Federal Income Tax Rate. a . The federal tax rate

1.10 Use an IF function with nested VLOOKUP functions to calculate the Federal Income Tax Rate.
a. The federal tax rate is a function of the adjusted income and the employee's marital status.
b. Reference the tax tables in the Model Assumptions and the marital status in the Employee Information section to construct a formula (set of nested formulas) to calculate the tax rate.
c. For example, a single employee who earned $15,000 would pay a 33% marginal tax rate.
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