5) Calculate the luxury tax for the Thunder if the threshold is at $123 million and their payroll is Show your work. at $150 million. You may assume this is their second year over the threshold. NBA Tax Rates: (note that the rates are incremental) Team salary above tax level Non-repeater Repeater Incremental maximum Incremental Lower $0 $5,000,000 $9,999,999 $1.75 $10,000,000 $14,999,999 $2.50 $15,000,000 $19,999,999 $3.25 Upper Tax rate Tax rate maximum $4,999,999 $1.50 $7.5 million $8.75 million $12.5 million $16.25 million$4.25 $2.50 $2.75 $3.50 $12.5 million $13.75 million $17.5 million $21.25 million $3.75, and increasing $.50 forNIA each additional $5 $4.75, and ncreasing $.50 or each additional $5 million $20,000,000 N/A N/A million