Please display all necessary formulas.

(using vlookup)

Vlookup question: given the following 2013 IRS Tax brackets for single tax filers, please prepare a conveneint Vlookup searach table, then use Vlookup functions to find out marginal tax rate, and total tax payment for any filed incomes in the output section. (12 Points) Input section Here's an example of how income is taxed: Say you are single and report $80,000 in taxable income for the 2012 tax year (filing in 2013) The first $8,925 of your income is taxed at 10%; dollars $8,926 through $36,250 are taxed at 15%; dollars $36,251 through $85,650 are taxed at 25%. 2013 IRS Tax Brackets _ Up to S8.925 8,926 $36 250 36,251-$87,850 87,851-$183,250 183,251 $398,350 398,351 $400,000 28% 33% So, the marginal tax rate is 25% total tax payment-8925" 10% + (36,250-8,929" 15%+ (80,000-36250)"25% Please prepare your Vlookup search table below here is one example of the prepared table, you may add/drop columns. The goal is in the autput sectian, you need to use formula automatically find out the resuts Income cutoff marginal tax rate oumulative tax up Income cutoff Expected output Ouput Section with IF functions: Filed single incon marginal tax ratetotal tax ent Filed single incom marginal tax rate total tax payment 6,500 10% 00,000 25% 100,000 28% 400,000 35% 500,000 40% 650.00 15928.75 21,293.25 116,163 75 55,763 75 G,500 0,000 00,000 400,000 500,000