Problem 02-11 (Algo) [LO 2-5, 2-7] Government G levies an income tax with the following rate structure: Percentage Rate Bracket 6% Income from 0 to $30,000 10 Income from $30,001 to $70,000 20 Income from $70,001 to $200,000 28 Income in excess of $200,000 Taxpayer O earns $65,500 annually during years 1 through 10. Taxpayer P earns $25,000 annually during years 1 through 5 and $106,000 annually during years 6 through 10. Assume the tax rate bracket has not changed. Required: How much total income does each taxpayer earn over the 10-year period? Compute each taxpayers average tax rate for the 10-year period.