Partner A, a single taxpayer, is one of two partners in a small business. As such, she receives pass-through income that is taxed at her personal tax rates. After all adjustments and deductions have been made, including the 20% qualified business income deduction, she is preparing to calculate her taxes owed for the year. Using the tax rate schedule given here.____ perform the following:

a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $11,800; $82,000; $300,000; $493,000; $1.2 million; $1.5 million; and $1.9 million.

b. Plot the average tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis). What generalization can be made concerning the relationship between these variables?

Please write out formulas that you use to solve! even better if you do it in excel :)

Partner A, a single taxpayer, is one of two partners in a small business. As such, she receives pass-through income that is taxed at her personal tax rates. After all adjustments and deductions have been made, including the 20% qualified business income deduction, she is preparing to calculate her taxes owed for the year. Using the tax rate schedule given here. __ perform the following: a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $11,800; $82,000; $300,000; $493,000; $1.2 million; $1.5 million; and $1.9 million. b. Plot the average tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis). What generalization can be made concerning the relationship between these variables? * More Info Tax Rates Single Taxpayers-2018 Range of taxable income $0 to $9,525 9,525 to 38,700 38,700 to 82,500 82,500 to 157,500 157.500 to 200,000 200,000 to 500,000 Over 500,000 Base tax $0 953 4,454 14,090 32,090 45,690 150,690 + + + + + + + + Tax calculation (Marginal rate x amount over base br (10% x amount over (12% x amount over (22% x amount over (24% X amount over (32% X amount over (35% X amount over (37%