Average income $ Cumulative Percent of Household percent (after taxes and percent of income benefits) income Lowest 20 percent 10,000 Second 20 percent 26,000 Third 20 percent 38,000 Fourth 20 percent 55,000 Highest 20 percent 140,000 The table above gives the average income received by each quintile. Show computation work whenever possible. 1. (2 points) Calculate the percent share of income by each quintile. 2. (2 points) Calculate the cumulative share of income of the population. 3. (2 points) In terms of the Lorenz Curve, what would you say about the income gap and incomes distribution of this population? 4. (2 points) Other than the progressive tax system, which one of the income redistribution program do you think is the most effective method in helping the near-poor, and why