Sgt$.$ Barnes is a veteran police officer and has been asked to sit for the Lieutenant's exam. She is excited about the Married Filing Jointly

opportunity as it is the natural progression of her carrer along with a great pay raise. However, 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. Sgt$.$ Barnes would like to know what the tax implication will be with the

promotion and raise. Presented below are her current and proposed salaries along with her net income as a private

security guard. For purposes of this problem, ignore any self$-$employment implications.

Required:

Complete the "The tax is:$"$ column for each filing status table using a formula.

Prepare the Current Salary and Proposed Salary tax calculations using VLOOKUP formulas to the $2023$ tax brackets.

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

$($HINT: Use the TRUE logical value for VLOOKUP formulas$)$

Married Filing Jointly