Question 2: Suppose an individual has been earning $5,000 in each of the last four years. This year, in addition to earning $5,000, he gets a lump-sum payment of $25,000. a) What tax is payable in each of these five years and the total overall of the five years? b) What would have been the tax payable in total over the five years if this individual earned $10,000 in each of the five years? c) What does this tell us about the equity of the tax system between those who earn their income evenly over many years for example a professor, versus an athlete who earns large incomes for few years early in life and then no income later. d) What tax policy change would you recommend to make the income tax system more equitable