Sgt. Barnes is a veteran police officer filing as Head of Household. Currently, her taxable income is $50,000, but has been asked to sit for the Leutenant's exam. She is excited about the opportunity as the pay raise will give her an additional $15,000 of taxable income. Sgt. Barnes would like to know what the tax implication will be with the promotion and raise. 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.

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 2022 tax brackets.

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

can you help with this?