I need to see the formulas that you use (:

Using Excel to find the marginal tax rate can be accomplished using the VLOOKUP function. However, cakulating the total tax bill is a little more difficult. Below we have shown a copy of the IRS tax table for an individual for 2018 (the income thresholds are indexed to inflation and change through time). of taxable income is But not Over over - The tax is: $0 $9,525 10% of the amount over $0 9,525 38,700 $952.50 plus 12% of the amount over $9,525 38,700 82,500 $4,453.50 plus 22% of the amount over $38,700 82,500 157.500 $14,089.50 plus 24% of the amount over $82,500 157,500 200,000 $32,089.50 plus 32% of the amount over $157,500 200,000 500,000 $45,689.50 plus 35% of the amount over $200,000 500,000 $150,689,50 plus 37% of the amount over $500,000 In reading this table, the marginal tax rate for taxable income less than $9,225 is 10%. If the taxable income is between $9,525 and $38,700, the tax bill is $952.50 plus the marginal taxes. The marginal taxes are calculated as the taxable income minus $9,525 times the marginal tax rate of 12%. 5 Below, we have the tax table for a married couple, as well as a taxable income. B 9 Taxable income! $ 335.000 400000 A B D F H Taxable income: $ 335,000 Taxable income is greater than or equal to.... $ But less than... 19,050 77,400 165,000 315,000 400,000 600,000 1 19,050 77,400 165,000 315,000 400,000 600,000 5 Tax rate 10% 12% 22% 24% 32% 35% 37% 8 9 Create a tax table for a married couple similar to the individual tax table shown above. 0 0 11 32 b. 33 34 C 35 36 d. 37 38 39 For a given taxable income, what is the marginal tax rate? For a given taxable income, what is the total tax bill? For a given taxable income, what is the average tax rate? 40 A1