Integrated Excel $-$ Tax Problem $-$ Marginal Tax Rate

Sgt$.$ Barnes is a veteran police officer filing as Head of Household. Currently, her taxable income is $$50,000,$ but has been asked to sit for the Leutenant's exam. She is excited about the opportunity as the pay raise will give her an additional $$15,000$ of taxable income. Sgt$.$ Barnes would like to know what the tax implication will be with the promotion and raise. Sgt$.$ Barnes also moonlights as a private security guard for major sporting events and is concerned the promotion and raise will have an adverse impact on her marginal tax rate.

Required:

Complete the "The tax is:$"$ column for each filing status table using a formula. Please show each individual formula in the sheet.

Prepare the Current Salary and Proposed Salary tax calculations using VLOOKUP formulas to the $2022$ tax brackets. Please show each individual formula in the sheet.

Enter a formula to compute the Marginal Tax Rate $($Hint: $\backslash$Delta Tax$/\backslash$Delta Taxable Income$)$