2. (HW) Consider the following tax system: Tax Brackets Marginal Tax Rates 1 0 - 50,000 10% 2 50,000- 100,000 15% 3 100.000 - 150,000 18% 150.000 - 200,000 25% 5 200.000 - 250,000 30% 6 250,000 + 33% Assume that a business executive receives a gross monthly salary of $225,000. i. Calculate the average and marginal tax rates that he she has to pay. (10 marks) ii. If the NIS, NHT and education tax amounts due at the end of November are $3, 125.00, $5,600.08, and $5,040.35 respectively, what amount in net income (after-tax income) should the business executive expect to see on his pay stub. (10 marks) ifi. Advise the Minister on the potential benefit of eliminating progressive taxation