16, two individuals, Anna and Beatrice, earned the following income amounts, respectively: YA=40.000 and YB=20.000. In their country, the income tax schedule is as follows: Income bracket 030.000 Tax rate 10% 20% 40% Determine both Anna and Beatrice tax liability and average tax rate in 2016 (2 points). i. In 2017, the Government decides to introduce a flat tax rate characterized by a tax rate equals to 25% and bya tax credit of 500 euro (instead of the above described tax sched ule). Determine both Anna and ii. beatrice tax liability and average tax rate in 2017 (2 points). i Compute the amount of deduction that would be equivalent to the tax credit described at the previous point (2 points) and comment about the effects of deductions and tax credits in a progressive tax system (4 points)