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Accessibility tab summary: Students please use the information below to complete the question completing the required cells. Given information for this question is presented in
Accessibility tab summary: Students please use the information below to complete the question completing the required cells. Given information for this question is presented in rows through The required answers are in rows through
Sgt Barnes is a veteran police officer and has been asked to sit for the Lieutenant's exam. She is excited about the opportunity as it is the natural progression of her career along with a great pay raise. However, Sgt Barnes also moonlights as a private security guard for major sporting events and is concerned the promotion and raise will have an adverse impact on her marginal tax rate. Sgt Barnes would like to know what the tax implication will be with the promotion and raise. Presented below are her current and proposed salaries along with her net income as a private security guard. For purposes of this problem, ignore any selfemployment implications.
Required:
Complete the "The tax is: column for each filing status table using a formula.
Prepare the Current Salary and Proposed Salary tax calculations using VLOOKUP formulas to the tax brackets.
Enter a formula to compute the Marginal Tax Rate Hint: Delta TaxDelta Taxable Income
Note: Use the TRUE logical value for VLOOKUP formulas.
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