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In the country of Freedonia, the national currency is the royal. Single people pay no taxes on the first 1,000 royals, 10% on any income
In the country of Freedonia, the national currency is the royal. Single people pay no taxes on the first 1,000 royals, 10% on any income between 1,000 and 3,000 royals, 20% on any income between 3,000 and 10,000, and 30% on any income over 10,000 Married people filing jointly pay no taxes on the first 1,000 royals, 8% on any income between 1,000 and 3,000 royals, 15% on any income between 3,000 and 10,000, and 25% on any income in excess of 10,000 royals. So, for example, a single person with an income of 5,000 royals would pay 200 royals for the income between 1,000 and 3,000 and 400 for the income between 3,000 and 5,000 for a total tax bill of 600 royals. Create a Tax Rate table to represent the different tax rates for different income ranges, and any base tax amount that is applicable to each income range. Create a model to calculate the taxed owed given the marriage status and income, using lookup functions to look up from the Tax Rate table. The model also should show the actual percentage of income owed in taxes. In the example given, the 600 royals owed represent 12% of income. Create 4 test cases for different income and marital status
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