Question
In Canada, we pay federal and provincial income tax. According to the Canadian Government, the federal tax brackets for 2023 are: 15% on the portion
In Canada, we pay federal and provincial income tax. According to the Canadian Government, the federal tax brackets for 2023 are: 15% on the portion of taxable income that is $53,359 or less, plus 20.5% on the portion of taxable income over $53,359 up to $106,717, plus 26% on the portion of taxable income over $106,717 up to $165,430, plus 29% on the portion of taxable income over $165,430 up to $235,675, plus 33% on the portion of taxable income over $235,675 Your job is to determine the tax bracket for a give taxable income. Input: The program must read one line of input: Input the taxable income (integer) and store it to an appropriately named variable. Note In this problem, were only interested in the integer portion of the income. Processing: Your program must: Calculate the federal tax bracket for the inputted income. Output: Use f-strings to format the output in the following manner: Income: $999,999 Bracket: 9 Examples: Input Output 90000 Income: $90,000 Bracket: 2 500000 Income: $500,000 Bracket: 5 126717 Income: $106,717 Bracket: 2 106718 Income: $106,718 Bracket: 3 235675 Income: $235,675 Bracket: 4
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