Do the Excel Master It! Problems at the end of Chapter 2.

EXCEL MASTER ITI PROBLEM Laceltuind the TrialUpdate VLOOKU the lowever, calculating the tablice Any of the IRS Tax Le ved indvidual 2000. Ces presented in this forma Me Income is OVER But not 9.875 40,12 01 525 153,300 207.30 518.400 5875 40.125 5.5.25 163200 207.350 $18.400 The tale oosters 597 Os 12eur.75 34.517.5 22540125 $14.605 24.5.51 $35,271 50 plus ant the more $163300 547.257 35% me move 5707340 $156 225 plus of the amount over 5518.400 In reading this table, the marginal a rate for taxable income less than 59.875 in 10 the marginal texes. The mainal taxes are calculated as the taxable income minas 59.875 times the marginal tax rate of 12 percent percent. If the taxable income is between $9,875 and $40.125. the tax bill is $987.50 plus Below, we have the tax table that was applicable for married indivilaals filing jointly in 2020 Taxable income is greater than or equal to.. But less than Tax rate $ O 19.750 80.250 171.050 326.600 414,700 622,050 19.750 80.250 171,050 325,600 414.700 622,050 105 12 22 24 32 35 37 a. Create a tax table in Excel for a couple filing jointly similar to the individual tax table shown above. Your spreadsheet should then calculate the marginal tax rate, the average tax rate, and the tax bill for any level of taxable income input by a user. b. For a table income of $225.000. what is the marginal tax rate? c. Forat sabie income of $225,000, what is the total tax bill? d. For a saxable income of $225.000, what is the average tax rate